NIFTY- LONG TERM OUTLOOK- APRIL-JUNE 2009

Nifty is again at a crossroad looking for direction. Immediate short term monthly levels for April is plugged at 2745- breakdown and 2823- breakout. Trend Decider is at 2784. Looking at the long term levels is also showing us that Nifty is strategically placed. One very important level for the year 2009 to look out for is 2755. We are trading very near to this level. The monthly close of March 09 should give us more clarity as to which direction Nifty will finally take for the next quarter. A closure above 2755 this March will take Nifty to 3335 and closure below 2755 will take Nifty to 2172.