Tuesday, August 12, 2008
TECHNICAL OUTLOOK, 12 AUGUST
D Sathia Moorthy
Short term Technical View of Nifty
The next minor correction is possible around 4800 level in coming trading sessions and it would be followed by rally towards 5000.
The level 4430 is the crucial level in the short term. If Nifty sustains above this level, then it is likely to move towards 4900-5000 by this month end.
If Nifty doesn’t go below 4430 here after, then the low of 3790 would be the medium term bottom. And also it implies a medium term rally in coming months.
Extreme Short term technical view of Nifty
In the extreme short term, the level 4550 and 4650 are crucial.
If it sustains above 4650, then it is likely to test 4800.
Nifty Intraday trading levels
Today, if Nifty trades above 4650, then it could test 4700. Instead, if it fails to hold above 4650, then it could decline to 4550.
Trading Strategy for Nifty
For intraday, the crucial level is 4650. Be long above this level and be short below this level.
Medium term outlook of Nifty dated on 02 July 2008
The medium term outlook of Nifty has turned bullish and it is likely to move towards 5500 by this year end and this view holds good as long as Nifty stays above 3600.
Long term outlook of Nifty dated on 02 July 2008
The long term outlook of Nifty is looking bullish and it seems that Nifty is in the middle of this bull run. So, the bull run is likely to continue for another 4 to 5 years and this view holds good as long as Nifty stays above 3600.
Visit us at:
Yahoo Messenger Id - firstname.lastname@example.org