Today, 8240 is the crucial intraday level for Nifty.
If Nifty sustains below 8240, then it could test 8150 and below that level it could test 8120.
Instead, if Nifty trades above 8240, then it could test 8350.
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 9000.
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 07 November 2014
The long term outlook of Nifty is looking bullish and the present bull market from the low of 4500 level is likely to continue till 2016 and it is likely to test 11000 levels in 2 years.
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