NIFTY MEDIUM TERM OUTLOOK

Nifty will now try to fill the gap it created on the day election results was announced. The strategy will be to sell nifty future. The stop will be placed at 4155 and the projected target is 3797 and 3730. It will be prudent to book profits here as 3700/30 are very important FIB levels. If Nifty takes support here one can go long with a stop just below 3700. However if Nifty breaks 3700 on a closing basis then I will not be surprised if we visit the lows we made in March.