Nifty 4504.55
Nifty sustained above 4400 and thus negated the view of a correction from that level. Now Nifty is likely to move towards 4600 in coming trading sessions. And still a short term correction is possible in coming trading sessions and it would be followed by a rally towards 5000.
In the extreme short term, as long as it stays above 4480, the trend would be bullish and further upside towards 4550 is possible. Below this level, it could turn weak.
Today, if Nifty sustains above 4480, then it is likely to test 4540. Below 4480, it could test 4450.
Medium term outlook of Nifty - dated 13th July
Nifty is likely to make a significant top around 4400 level. If it sustains above 4400, then it is likely to move towards 4600
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.
Trading Strategy
Remain long as long as it stays above 4440.
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Monday, July 16, 2007
Monday, July 09, 2007
TECHNICAL OUTLOOK, 09, JULY
Nifty 4384.85
A short term correction is possible from 4350-4400 level in coming trading sessions. Instead, if it moves and sustains above this level, then it is likely to move towards 4600 in coming weeks.
In the extreme short term, as long as it stays above 4370, the trend would be bullish and further upside is possible. Below this level, it could turn weak.
Today, if Nifty sustains above 4370, then it is likely to test 4420. Below 4370, it could test 4310.
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.
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.
Trading Strategy
Remain long as long as it stays above 4370.
Visit us at
www.waveriders.in
Contact
9381203517
asksathia@hotmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
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