TECHNICAL OUTLOOK, 25, JUNE

Nifty 4252.05

Nifty is in the last leg of the rally and the final upside leg is likely to peak out around previous high. One possibility is it likely to reverse direction from current levels. The other being, Nifty is likely to make a new high around 4350-4400 before turning down.

In the extreme short term, if it moves above 4260, then it is likely to test 4350-4400. Instead, if it trades below 4210, then it is likely to test 4100.

Today, if Nifty fails to sustain above 4260, then it is likely to test 4210. And below this level it could test 4180.



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 4210.




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TECHNICAL OUTLOOK, 18, JUNE

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