Nifty 3809.25
Nifty is likely to test 3850 in coming trading sessions and this view holds good as long as Nifty stays above 3765. As long as Nifty stays above 3765, the short term trend would remain bullish.
Today, if Nifty sustains above 3795, then it could test 3815 and above 3815 it could test 3830.
Instead, if it fails to sustain above 3815, then in the downside, it could test 3795, and below 3795, it could test 3770.
Dr Reddy 776.40
The short term trend is looking bullish and it has potential of testing 825 in coming trading sessions. Buy on decline with a stop at 760.
DELIVERY CALLS
Himadri Chemicals 258.95
The scrip is in long term bull trend and it has good potential in the long run.
In short term, chart indicates a rally towards 320 in coming weeks. Buy on decline with a stop at 220.
Medium term Outlook of Nifty (dated 01/11/2006)
The medium term trend in Nifty is looking bullish and it has potential of testing 4200 in coming months. And this view holds good as long as Nifty stays above 3600.
As the expected correction around 3800 level, is taking place as a running sideways correction, the present technical setup of Nifty suggests that there would be no major downside in the immediate future. And also if Nifty doesn’t violate 3600 level, we are likely to see a sharp up move towards the next medium term target in coming months.
Long term Investors can remain invested for the next medium term target of 4200 in coming months with a stop at 3600.
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