Monday, May 14, 2007
TECHNICAL OUTLOOK, 14 MAY
Nifty 4076.65
As long as Nifty holds above 4040 level, the trend would be bullish. And in the upper side it is likely to test 4300-4350, if market rallies from here. If not, correction is likely to extend towards 3920.
In the extreme short term, if it sustains above 4100, it is likely to test 4160-4170 level.
Today, if Nifty sustains above 4040, then it is likely to test 4120. Above 4120, it could test 4160.
Medium term outlook of Nifty
In the medium term charts, the trend is looking bullish and it is likely to test 4300-4350 in coming months.
Long term Investors can remain invested with a stop at 3750.
Trading Strategy
Remain long as long as it stays above 4040. Positional traders can hold Nifty for targets above 4200 in coming trading sessions.
Reliance 1593.10
The short term trend is looking bullish and it is likely to test 1700-1725 level in coming trading sessions. The view holds good as long as it stays above 1570. Buy on decline with a stop at 1570 for a target of 1725.
If it fails to sustain above 1570, it is likely to decline towards 1450. In that case, short below 1570 with a stop at 1590 for a target of 1450.
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Monday, May 07, 2007
TECHNICAL OUTLOOK, 07 MAY
Nifty 4117.35
As long as Nifty holds above 4040 level, the trend would be bullish and in the upper side it is likely to move above 4250. If not, correction is likely to extend towards 3920.
In the extreme short term, if it sustains above 4090, it is likely to test 4190.
Today, if Nifty sustains above 4090, then it is likely to test 4155. Instead, if it moves below 4090, it is likely to test 4040.
Medium term outlook of Nifty
In the medium term charts, the trend is looking bullish and it is likely to test 4300-4350 in coming months.
Long term Investors can remain invested with a stop at 3750.
Trading Strategy
Remain long as long as it stays above 4080.
Visit us at
www.waveriders.in
www.sathiamoorthy.blogspot.com
Contact
9381203517
asksathia@hotmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
As long as Nifty holds above 4040 level, the trend would be bullish and in the upper side it is likely to move above 4250. If not, correction is likely to extend towards 3920.
In the extreme short term, if it sustains above 4090, it is likely to test 4190.
Today, if Nifty sustains above 4090, then it is likely to test 4155. Instead, if it moves below 4090, it is likely to test 4040.
Medium term outlook of Nifty
In the medium term charts, the trend is looking bullish and it is likely to test 4300-4350 in coming months.
Long term Investors can remain invested with a stop at 3750.
Trading Strategy
Remain long as long as it stays above 4080.
Visit us at
www.waveriders.in
www.sathiamoorthy.blogspot.com
Contact
9381203517
asksathia@hotmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
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