TECHNICAL OUTLOOK, 3 SEP 2007

Nifty 4464.00

If Nifty moves above 4550, in one or two trading sessions, then the rally is likely to continue towards 5000 in coming months. If it fails to clear 4550 in few trading sessions then, a decline to 3950 is likely.

In the extreme short term, as long as it sustains above 4400, the trend would remain bullish. Below this level, the trend would turn bearish.

Today, if Nifty sustains below 4425, then it is likely to test 4500. Above 4500, it could test 4520. Instead, if it trades below 4425, then a decline to 4360 is likely.



Trading Strategy

Now the crucial levels are 4400 and 4550. Exit your long positions if Nifty fails to clear 4530.



Medium term outlook of Nifty - dated 23rd July

Nifty is likely to make a significant top around 4600 level. Instead, if it moves above 4600, then it is likely to move towards 5000 in coming weeks.



Long term outlook of Nifty - dated 29th June

Nifty is in long term bull market and after some downside, it is likely to move towards 5000 by this year end.





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