Monday, June 30, 2008
TECHNICAL OUTLOOK, 30 JUNE
DAILY NEWSLETTER
Nifty 4136.65
Short term
Nifty is likely to bottom out around 3950-4000 levels.
Nifty is in the process of bottom formation. Any bounce back from current levels should move above 4350, to confirm the bottom.
As long as Nifty stays above May 2006 high of 3750, the long term trend and medium term bull trend of the market would be intact.
Extreme Short term
In the extreme short term, the level 3950 is crucial.
Intraday
Today, if Nifty trades below 4100 then it could test 3950-4000. Instead, if it trades above 4200, then it could test 4250.
Trading Strategy
Now the crucial level is 3950. Be short below this level and be long above this level.
Medium term outlook of Nifty dated on 25 June 2008
The medium term outlook of Nifty has turned bullish and it is likely to move towards 5500 by this year end and this view holds good as long as Nifty stays above 3950.
Long term outlook of Nifty dated on 25 June 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 3950.
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Friday, June 27, 2008
TECHNICAL OUTLOOK, 27 JUNE
DAILY NEWSLETTER
Nifty 4315.65
Short term
If Nifty fails to hold above 4200, then it is likely to bottom out at 3950-4000 levels. If it holds above 4200 for another two trading sessions then it is likely to bottom out around 4200.
Nifty is in the process of bottom formation. Any bounce back from current levels should move above 4350, to confirm the bottom.
As long as Nifty stays above May 2006 high of 3750, the long term trend and medium term bull trend of the market would be intact.
Extreme Short term
In the extreme short term, the level 4200 and 4350 are crucial.
Intraday
Today, if Nifty trades below 4250, then it could test 4200. Instead, if it trades below 4350, then it could test 4400.
Trading Strategy
Now the crucial level is 4200. Be short below this level and be long above this level.
Medium term outlook of Nifty dated on 25 June 2008
The medium term outlook of Nifty has turned bullish and it is likely to move towards 5500 by this year end and this view holds good as long as Nifty stays above 3950.
Long term outlook of Nifty dated on 25 June 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 3950.
Visit us at:
www.waveriders.in
Contact:
9381203517
asksathia@hotmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
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