Today, 8250 is the crucial intraday level for Nifty.
If Nifty sustains below 8250, then it could test 8215 and below that level it could test 8165.
Instead, if Nifty trades above 8250, then it could test 8300.
Short term Technical View of Nifty
For the short term, the level 8200 is crucial. If it sustains below this level, then it is likely to test 7400. Instead, if it trades above 8200, then it is likely to test 8920.
Medium term outlook of Nifty dated on 31 October 2014
The medium term outlook of Nifty would remain bullish if it sustains above 8200. Nifty is likely to rally towards 9200.
Long term outlook of Nifty dated on 31 October 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 9200 and it is likely to be followed by 2 to 3 years bear market.
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