Today, significant intraday level for Nifty is 6030.
If Nifty sustains below 6030, then it could test 5950 and below that level it could test 5870.
Instead, if Nifty trades above 6030, then it could test 6060.
Nifty Short Term Technical View
For the short term, it is important 6150 level. It created below this level; it is likely to test 6350. If instead it trades above 6150, then it is likely to test 5700.
Medium -term outlook of Nifty dated on 30 July 2010
If it sustains above 5550 Nifty medium -term outlook remains bullish. Nifty 6350 around may see a moderate improvement.
Long-term outlook of Nifty dated on 30 July 2010
The long term outlook of Nifty is looking bearish and the present bull market from the low of 2003 is likely to terminate in 2010 around 6350 and it is likely to follow by 2 to 3 years bear market.
Reality, Power and Infrastructure sector is expected to underperform the overall market. FMCG, pharma and banking sectors are likely to perform better in the coming years.