Nifty 4171.45
In the short term, further up move towards a new high is possible only if it trades above 4260. Until then, the short term trend would remain weak and in the downside it has potential of testing 4100 and below this level it could test 3900.
In the extreme short term, if it trades below 4145, it could test 4050.
Today, if Nifty fails to sustain above 4145, then it is likely to test 4090. Instead if it trades above 4190, then it is likely to test 4220.
Medium term outlook of Nifty – dated 21st May
Nifty is likely to make a significant top around 4400 level. Further upside is possible only if Nifty sustains above this level.
Trading Strategy
Be short below 4145.
Visit us at www.waveriders.in
Contact
9381203517
asksathia@hotmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
Nifty 4297.05
Nifty is in the process of making a significant top around 4350-4400 level. Hold your longs till this level is tested. Further up move is possible only if Nifty sustains above 4400. If it sustains above this level, then the rally is likely to continue with added momentum.
In the extreme short term, if it sustains above 4260, one more high around 4350-4400 is possible. If it fails to sustain above 4260, then it is likely to decline towards 4100.
Today, if Nifty sustains above 4280, then it is likely to test 4350. Instead, if it trades below 4260, then it is likely to test 4230.
Medium term outlook of Nifty
Nifty is likely to make a significant top around 4400 level. Further upside is possible only if Nifty sustains above this level.
Trading Strategy
Be long above 4280 and short below this level.
Visit us at
www.waveriders.in
www.sathiamoorthy.blogspot.com
Contact
9381203517
asksathia@hotmail.com Yahoo Messenger Id - sathiamoorthyd@yahoo.com
