TECHNICAL OUTLOOK, 23 JULY

DAILY NEWSLETTER


D Sathia Moorthy


Nifty 4159.50


Short term Technical View of Nifty


Nifty is likely to test 4400-4450 level in the short term and it is likely to see a consolidation or a correction from that level.

The last crucial level for the Nifty is 3600-3775. As long as Nifty stays above this level, the long term and Medium term bull trend of the market would be intact.



Extreme Short term view of Nifty

In the extreme short term, the level 4260 is crucial. As long as it trades above this level, it is likely to test 4400-4450.


Nifty Intraday trading levels

Today, if Nifty trades above 4260, then it could test 4215, and above this level it could test 4350 and above this level it could test 4400.



Trading Strategy for Nifty

Now the crucial level is 4260. Be long above this level and be short below this level.






Medium term outlook of Nifty dated on 02 July 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 3600.



Long term outlook of Nifty dated on 02 July 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 3600.






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