Nifty 3621.05
Short term trend in Nifty is looking bullish and it has potential of testing 3700 in coming trading sessions and this view holds good as long as Nifty stays above 3580 level.
Nifty is likely to trade around 3650 level before testing 3700.
Banking sector is likely to perform well in coming trading sessions.
Positional traders can continue to hold their long positions with a stop at 3580.
Today, if Nifty sustains above 3600, then it could test 3650.
Tata Motors 900
The short term trend is looking bullish and it has potential of testing 950 in coming trading sessions. Buy on decline with a stop at 880.
DELIVERY CALLS
E-Merck (i) 511.50
The scrip is in long term bull market and it has good potential in the long run.
In short term, chart indicates a rally towards 600 in coming weeks. Buy on decline with a stop at 480.
Elder Pharma 352.85
The long term trend in this scrip is looking bullish.
In short term, it could test 450 levels in coming weeks. Buy on decline with a stop at 310.
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Medium term Outlook of Nifty
The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. The correction in this type of market would be sharp and shallow and also corrections would be retraced immediately.
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