TECHNICAL OUTLOOK, 31 DEC

Nifty 6079.70

The view remains the same. In the short term, Nifty is likely to rally towards 6200 in coming trading sessions and above this level it could rally towards 6500 and this view holds good as long as it stays above 5950.

In the extreme short term, Nifty is likely to trade between 5950 and 6120 before moving towards 6200.

Today, if Nifty fails to move above 6095, then it is likely to decline towards 6000. Instead, if it moves above 6095, then it is likely to test 6120.




Trading Strategy

Now the crucial levels are 5950 and 6120.






IDBI 163.55

The long term outlook of this scrip is looking bullish.

The medium term outlook of this scrip is looking bullish and this view holds good as long as it stays above 140 and in the upper side it is likely to see a rally towards 300.

In the short term, if it sustains above 150, then it is likely to test 200 initially.

In the extreme short term, a move above 170 would confirm the target of 200 in coming trading sessions.




Ruchi Soya 150.50

The long term outlook of this scrip is looking bullish.

The medium term outlook of this scrip is looking bullish and it is likely to test 300 in a short span of time and this view holds good as long as it stays above 115.

In the short term, if it sustains above 130, then it is likely to move towards 200.

In the extreme short term, if it sustains above 140, then it is likely to test 175 in coming trading sessions.





Visit us at:

www.waveriders.in
www.sathiamoorthy.blogspot.com

Contact:

9381203517
asksathia@hotmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com

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.





Visit us at:

www.waveriders.in

www.sathiamoorthy.blogspot.com



Contact:

9381203517

asksathia@hotmail.com

Yahoo Messenger Id - sathiamoorthyd@yahoo.com