Mid Term Stock Market Outlook 16 Jan 2011 by investCraft

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	Market View - Nifty Outlook As on 16 Jan 2011 As per our last view , Nifty hit our target of 6300 in Nov 2010, after a break above 5500 in Aug 2010 when we came out with our last view. After touching its previous high , a phase of consolidation going on for last couple of months and there is a major discussions going on about next Nifty Target till Apr 2011. In last trading session we have witnessed a major shift in trend , and Nifty is below 5740 , which gives a reason to believe that this is not just a dip , but beginning of a deeper correction. We Revise Our Short Term Trend to Down for the Target 5400 and Mid Term Target 5250. After forming a top near 6300 levels , Nifty almost corrected 10% and made a double bottom at 5750 , which was a extremely bullish sign , but this bullish pattern could not get materialized on charts and Nifty has broken below that bottom. We see a much deeper correction and Nifty Mid Term Target is 5250 . Only support on the way to 5250 is at 5400 levels where Nifty may find some support. Bottom of Current Fall : We see Nifty stabilizing around 5000 levels and then expect a sideways movement till market gather strength again , by meeting fundamental expectations of investors & Institutions. Time Period o Current Fall : Currently or in near future we don't see any major trigger to pull the Nifty above 5800 again . Union Budget might pass as a non-event for markets again. We believe market may consolidate till we start getting Q1 earnings in July 2011 . We expect a negative trend till Budget 2011 and Consolidation till July 2011. Expect a Rally Post Q1

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	We were the first to declare bottom of 2008 fall Friday- 7 Nov 2008 (when nifty was at 2973 , after bouncing back from low of 2524 on closing basis) , We Declared - " Bottom Seems to be in Place " , retesting is possible . Click here to read the complete report of 07 Nov'08 Retesting happened , but market did not close below the bottom we declared as 2524 , on any trading day. After 6 months , we found Big Time Analyst doing the same - Declaring Bottom in place


	We Announced the rally before Mark Mobius of Templeton did Wednesday - 18 Mar 2009 - Nifty bounced back till 2700 levels and analyst world was shouting EXIT calls , we revised our mid term trend also to up for the target 2950. We clearly mentioned in this report - " This rally may remain sharper than expected and may surprise on the upside by taking on all the resistance levels swiftly " To view the report click here Monday - 06 Apr 2009 - And then came our Next View - when our above view proved to be ultra-perfect . Market surprised everyone and jumped above 3200 very quickly . Our Heading of the report was - " Market may recover October fall Quickly " - Declared every dip as a Buying Opportunity and warned that this rally may get very sharp towards upside and declared a mid term target of 4250 . To view the report click here


	We PIN POINTED this mid term range of 4850 - 5450 , 9 months ago Wednesday - 25 Nov 2009 we came out with our last market view(click here to read our MEGA view based on pattern Analysis) , which we called a MEGA VIEW , 9 months back , we've predicted a range bound movement between 4850 and 5450. - We predict much before Analysts start identifying the trend - we proved it last time as well when we come out in Aug 2010 , saying " market is ready to see the last high- target 6300" We Predicted a rally above 5500 till a new high , 6 months ago Wednesday - 18 Aug 2010 (Nifty 5469) Scenario is changing - We are expecting a break above 5500 and a new all time high, so as per tradition , here we come again to guide you before other big time analyst start repeating our words after few weeks.Break above 5500 may again provide a very sharp rally till new highs near 6300 , so we are revising our Mid term trend to up for the target 6300 with a trend reversal point as close below 5250. Here we come again , as we see a major shift in the trend and Nifty is below 5740 which gives a reason to believe that this is not just a dip , but beginning of a deeper correction - Check detailed report below

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