Today, 7970 is the crucial intraday level for Nifty.
If Nifty sustains below 7970, then it could test 7920 and below that level it could test 7870.
Instead, if Nifty trades above 7970, then it could test 8060.
Instead, if Nifty trades above 7970, then it could test 8060.
Short term Technical View of Nifty
For the short term, the level 7950 is crucial. If it sustains below this level, then it is likely to test 6700. Instead, if it trades above 7950, then it is likely to test 8100.
Medium term outlook of Nifty dated on 25 JUly 2014
The medium term outlook of Nifty would remain bullish if it sustains above 7800.Otherwise, Nifty is likely to see a medium correction from 7800.
Long term outlook of Nifty dated on 25 July 2014
The long term outlook of Nifty is looking bearish and the present bull market from the low of 4500 level is likely to terminate in 2014 around 7800 and it is likely to followed by 2 to 3 years bear market.
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