Nifty is likely to test 3850 in coming trading sessions and this view holds good as long as Nifty stays above 3750.
Today, if Nifty sustains above 3770, then it could test 3810 and above 3810 it could test 3830.
The short term trend is looking bullish and it has potential of testing 520 in coming trading sessions. Buy on decline with a stop at 478. If it closes below 478, then it could test 460.
The short term bullish view in this scrip would get negated if it closes below 450.
Long term investors can continue to hold this scrip with a stop at 450 for good upside potential in coming months.
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 55 in coming weeks. Buy on decline with a stop at 32.
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.