Nifty 5974.30
In the short term, Nifty is likely to remain bullish as long as it stays above 5900 and it is likely to test 6200 initially and above this level, Nifty is likely to rally towards 6500.
In the extreme short term, the level 5900 is crucial. If Nifty holds above this level, then Nifty would remain bullish and it is likely to test 6200. Below 5900, it could test 5780.
Today, if Nifty trades above 6020, then it is likely to test 6060. Instead, if it trades below 5940, then it is likely to decline towards 5900.
Trading Strategy
Now the crucial level is 5900. Be long above this level and be short below this level.
NIIT Tech 244.40
The medium term outlook of this scrip is looking bullish and it is likely to test 400 in coming months and this view holds good as long as it stays above 200.
In the short term, if it sustains above 230, then it is likely to move towards 320 in coming weeks.
In the extreme short term, if it sustains above 238, then it is likely to move towards 260.
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Monday, December 10, 2007
Monday, December 03, 2007
TECHNICAL OUTLOOK, 3 DEC
Nifty 5762.75
In the short term, if it fails to sustain above 5700, then the correction is likely to extend below 5400. Instead, If Nifty trades above 5780, then it is likely to make a new high in coming trading sessions.
In the extreme short term, the levels 5700 and 5780 are crucial.
Today, if Nifty sustains above 5720, then it is likely to test 5780 and above 5780, it could test 5820. Instead, if it fails to move above 5780, then it is likely to test 5700.
Trading Strategy
Now the crucial level is 5700. Be long above this level and be short below 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.
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