Monday, April 02, 2007
TECHNICAL OUTLOOK, 02, APRIL
Nifty 3821.55
Short term trend in Nifty would remain bullish as long as it sustains above 3720. On the upper side, a move above 3850 would confirm further upside targets towards 3950-4000 level.
In the extreme short term, if Nifty sustains above 3780, it could test 3950. Below 3780, it could test 3720.
Today, if Nifty sustains above 3780, it could test 3850 initially. If it trades above this level, then it could test 3890.
Medium term outlook of Nifty
In the medium term charts, the trend is looking bullish and it is likely to test 4500 in coming months.
If Nifty doesn’t trade below 3720, then it is likely to move up towards 4200 initially. In case, if it trades below 3720, then it is has potential of testing 3300 in short term and even in this case, the medium term bullish outlook would remain intact.
Long term Investors can remain invested with a stop at 3720. In case, 3720 is violated, exit the holdings and re-enter around 3300.
Trading Strategy
Remain long with a stop at 3780. Short, if trades below 3780 for a target of 3720.
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Monday, March 26, 2007
TECHNICAL OUTLOOK 26, MARCH
Nifty 3861.05
Short term trend in Nifty is looking bullish and in the upper side it could test 3950-4000 level in coming weeks. Only a close below 3760 level would negate the bullish view.
In the extreme short term, if Nifty sustains above 3830, it could test 3950.
Today, if Nifty sustains above 3835, it could test 3890 initially and above this level, it could test 3920.
In the medium term charts, the trend is looking bullish and it is likely to test 4500 in coming months and this view holds good as long as Nifty sustains above 3500. Long term Investors can remain invested with a stop at 3500.
Remain long with a stop at 3830. Short, below 3810 for a target of 3760.
Visit us at
www.waveriders.in
Contact
asksathia@hotmail.com
9381203517
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