TECHNICAL OUTLOOK, 20 AUGUST

DAILY NEWSLETTER


D Sathia Moorthy



Nifty 4368.25



Short term Technical View of Nifty


The level 4420 is the crucial level in the short term. If Nifty sustains above this level, then it is likely to move towards 4800 by this month end.

Instead, if it fails to hold above 4420, then it could decline towards 4200 initially.



Extreme Short term technical view of Nifty


In the extreme short term, the level 4420 is crucial. As long as Nifty trades below this level, then trend is likely to remain bearish.





Nifty Intraday trading levels

Today, if Nifty trades above 4350, then it could test 4390 and above this level it could test 4420. Instead, if it moves trades below 4350, then it could test 4300.



Trading Strategy for Nifty

For intraday, the crucial levels are 4350 and 4390. Initiate positions in the direction of the break out.








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 bullrun 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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