The short term trend in Nifty is looking bullish, and it is likely to test 3950-4000 level in coming trading sessions and this view holds good as long as Nifty stays above 3850.
In the extreme short term, if Nifty sustains above 3910, then it could test 3960. If it fails to sustain above 3910, then it is likely to decline towards 3885.
Today, If Nifty sustains above 3910, then it is likely to test 3960.
The short term trend is looking bullish and it has potential of testing 330 in coming trading sessions. Buy on decline with a stop at 270.
If it trades below 270, then it is likely to decline up to 245.
Long term investors can continue to hold this scrip with a stop at 245 for a target of 400 in coming months.
The scrip is in long term bull trend and it has good potential in the long run.
In medium term, chart indicates a rally towards 40 in coming months. Buy on decline with a stop at 25.
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.