In the short term it is likely to decline towards 18-19 levels and it likely to remain in downtrend till june. From that level, it is likely to see a rally for another 1 year with upside potential of 35 to 45 levels.
Exit this counter as long as it trades below this level with a stop at 25.
Saturday, February 27, 2010
Friday, February 26, 2010
Nifty - Technical Outlook and Intraday Trading Levels, 26 Feb
Today, 4845 is the crucial intraday level for Nifty.If Nifty sustains below 4845, then it could test 4770 and below that level it could test 4700.
Instead, if Nifty trades above 4845, then it could test 4885 and above that level it coud test 4930.
Short term Technical View of Nifty
For the short term, the level 4950 is crucial. If it sustains below this level, then it is likely to test 4400. Instead, if it trades above 4950, then it is likely to test 5050.
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