Today, 8030 is the crucial intraday level for Nifty.
If Nifty sustains below 8030, then it could test 7970 and below that level it could test 7920.
Instead, if Nifty trades above 8030, then it could test 8065.
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 8300.
Medium term outlook of Nifty dated on 25 JUly 2014
The medium term outlook of Nifty would remain bullish if it sustains above 8200.Otherwise, Nifty is likely to see a medium correction from 8300.
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 8300 and it is likely to be followed by 2 to 3 years bear market.
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