what is the long term trend of NIFTY

After a long time I  write this blog post. 
Now the nifty is at 5139.  World economy is in deep trouble. Greece future is uncertain as of now. Election results are expected tomorrow. If Greece is out of EU then major problem unfold on the world economy. As far as India's position, RBI credit policy is a decisive event. Expecting the repo rate cut Indian markets rallied for the past two weeks. Even if RBI cuts repo rate markets have to leap up slightly but has to corrects further. Political spectrum is bad until 2014. Rupee depreciation results further problem to our GDP. No major indications from Business groups regarding the expansions. Means no major run up of markets in the medium to long term.
But technically speaking the nifty is at bullish on daily charts and ready to turn around to bullish on weekly charts too, if nifty crosses 5130-5150 zone.(crossing 50 line on weekly charts and stochastics is turning up from over sold zone.) Then the immediate target is 5300. But correction may be expected to down side for F&O settlement for June month. If for the next month nifty crosses further to 5300 then target is 5700 for July settlement.
If nifty won't crosses 5130-5150 zone on next trading day on closing basis then the nifty downward journey aligning with fundamental view to 4200 starts and settlement for June may be at 4800 or below.

SO THE FINAL TREND FOR THE YEAR- TO- LONG TERM WILL BE DECIDED ON TOMORROW'S TRADING.

Bull phase like in the offing in NIFTY

First the nifty for January 2012 settlement may be above 5000-5100.  Next the range for February 2012 is now shown as 5000-4400, but it may vary in due course probably to 4800-5200. The long term resistance line from the nifty 6350 zone is at 5100 which is to be broken up words now. Then the target in the medium term is 5550. This may happen as per my view. But it is not a bull phase initiation. I expect further fall after May 2012. The target to down side may be 3800-4200 Nifty zone to the end of this year.