TECHNICAL OUTLOOK, 24 DEC

Nifty 5766.50

In the short term, Nifty is likely to bounce back if Nifty holds above 5740 and it is likely to move towards 6050 in coming trading sessions and a move above 5840 would confirm the bottom. Instead, if it fails to hold above 5740, then it is likely to decline towards 5540.

In the extreme short term, the level 5850 is crucial. If Nifty trades above this level, then it could confirm a bottom.

Today, if Nifty trades above 5800, then it could test 5850 and above 5850 it could 5900. Instead, if it fails to move above 5740, then a decline to 5650 is likely.




Trading Strategy

Now the crucial level is 5850. Be long above this level and be short below this level.





Ashok Leyland 48.45

The long term outlook of this scrip is looking bullish.

In the medium term, the scrip is likely to see a sharp rally towards 150 in coming months and this view holds good as long as it stays above 42.

In the short term, the trend would remain bullish as long as it stays above 47 and it is likely to see a sharp rally towards 100 in coming weeks.

In the extreme short term, if it sustains above 47, it would rally from current levels. if not, it is likely to decline to 42 levels.




Great Offshore 845.15


The medium term outlook of this scrip is looking bullish and it is likely to test 1500 in coming months and this view holds good as long as it stays above 820.

In the short term, if it sustains above 820, then it is likely to move towards 1050 in coming weeks.

In the extreme short term, if it sustains above 820, then it is likely to rally towards 950 initially.





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TECHNICAL OUTLOOK, 17 DEC

Nifty 6047.70

In the short term, if Nifty trades below 5900, then correction is likely to terminate around 5780. Instead, if it fails to move below 5900, then correction is likely to terminate above 5900. And also, Correction would be followed by a rally towards 6500. If Nifty trades above 6120, then it would confirm the termination of correction.

In the extreme short term, the level 6120 is crucial in the upper side. In the downside, if it trades below 5950, then it could decline towards 5900.

Today, if Nifty trades below 6080, then it is likely to test 5950.



Trading Strategy

Now the crucial levels are 5900 and 6120 for the extreme short term.








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