Nifty is likely to test 3850 in coming trading sessions and this view holds good as long as Nifty stays above 3750. If Nifty fails to sustain above 3850 in coming trading sessions, it is likely to see a minor correction. After which, Nifty is likely to resume its uptrend.
Today, if Nifty sustains above 3785, then it could test 3820 and above 3820 it could test 3850.
Tata Motors 813.60
The short term trend is looking bullish and it has potential of testing 845 in coming trading sessions and above 845, it could test 890. Buy on decline with a stop at 790.
The short term bullish view in this scrip would get negated if it closes below 790.
Long term investors can continue to hold this scrip with a stop at 790 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 90 in coming weeks. Buy on decline with a stop at 50.
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.