NIFTY MEDIUM TERM OUTLOOK

BULLISH VIEW
Postional players are getting exited. They have every reason to be, because Nifty is approaching critical levels on the weekly charts. Watch 4370 and 4474. If Nifty takes support around 4370 levels then go long & stop loss will be placed below 4250. If Nifty comes down to 4370 levels then on crossing 4474 first target will be 4650. Above 4650 we will see new high of this present run.

BEARISH VIEW
If Nifty closes below 4250 then the above bullish view will be negated. Nifty will then become bearish. The stand to be taken will be to sell Nifty below 4200 with a stop above 4350 for targets of 4090 and 3900.