TECHNICAL OUTLOOK,29 OCT

Nifty 5702.30

In the short term, Nifty is likely to make a new high around 5750-5800 region and it would be followed by a short term correction towards 5350 and below this level, it could test 5000. Instead, if it moves above 5800 and sustains above this level, then it is likely to move towards 6000.

In the extreme short term, if it sustains above 5600, then it is likely to test 5800. Below 5600, it is likely to turn weak.

Today, if Nifty trades above 5650, then it is likely to test 5800.


Trading Strategy

Be short below 5600 and be long above this level for a target of 5800.




Medium term outlook of Nifty - dated 1st October

Nifty is likely to test 5250 level sharply and it will be followed by a consolidation between 5100 and 5600 for another 5 to 6 months. This view holds good as long as it stays above 4630. In case, if the level 4630 is violated, then a down move towards 4000 is possible for the medium term.



Long term outlook of Nifty - dated 1st October

Nifty is in long term bull market and after some consolidation between 5100 and 5600, it is likely to move towards 6000 in another 9 to 12 months. And this view holds good as long it stays above 4630. In case, if this level 4630 is violated, then after some downside it is likely to move towards 6000.





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TECHNICAL OUTLOOK, 22 OCT

Nifty 5215.30

The level 5350 is crucial for the short term movement of the market. If it fails to hold above this level, then it is likely to test 5000 level and if the level 5000 is violated in coming trading sessions, then the correction is likely to terminate around 4650-4700 level. Instead, if it moves above 5350, then it is likely to rally towards 5750.

In the extreme short term, if it sustains below 5350, then it is likely to test 5000.

Today, if Nifty trades below 5300, then it is likely to test 5000.



Trading Strategy

Be short below 5350 and be long above this level.






Medium term outlook of Nifty - dated 1st October

Nifty is likely to test 5250 level sharply and it will be followed by a consolidation between 5100 and 5600 for another 5 to 6 months. This view holds good as long as it stays above 4630. In case, if the level 4630 is violated, then a down move towards 4000 is possible for the medium term.


Long term outlook of Nifty - dated 1st October

Nifty is in long term bull market and after some consolidation between 5100 and 5600, it is likely to move towards 6000 in another 9 to 12 months. And this view holds good as long it stays above 4630. In case, if this level 4630 is violated, then after some downside it is likely to move towards 6000.





Visit us at:

www.waveriders.in


Contact:

9381203517

asksathia@hotmail.com

Yahoo Messenger Id - sathiamoorthyd@yahoo.com