Nifty 5317.25
Short term
In the short term, Nifty seems to have bottomed out and this view holds good as long as Nifty stays above 4800. And in the upper side it could test 5425 initially and if it able to move above 5425, then it is likely to move towards 6000 in a short span of time. In the downside the level 4800 is crucial for the short term. As long as it stays above 4800, the short term trend would remain bullish. If it fails to hold above 4800, then it is likely to retest the bottom 4400.
Extreme Short term
In the extreme short term, the level 5425 and 5000 are crucial. If Nifty moves above 5425, then it is likely to rally further. If not, a decline to 5000 is likely.
Intraday
Today, if Nifty sustains above 5250, then it could test 5400. If it fails to sustain above 5250, then a sharp downside is likely.
Trading Strategy
Now the crucial level is 5250. Be long above this level and be short below this level.
Medium term outlook of Nifty dated on 23 January 2008
The medium term outlook of Nifty has turned bullish and it is likely to move towards a new all time high by this year end and this view holds good as long as Nifty stays above 4400.
Long term outlook of Nifty dated on 23 January 2008
The long term outlook of Nifty is looking bullish and it seems that Nifty is in the middle of this bull run. So, the bull run is likely to continue for another 4 to 5 years and this view holds good as long as Nifty stays above 4400.
Visit us at:
Contact:
9381203517
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
