OCT 31, 06
NIFTY OUTLOOK - TECHNICAL ANALYSIS
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NIFTY has finally broken all time high (intraday). So there is virtually no resistance to stop it moving up. If the strong upward momentum continues it may cross 3800. But it may find it difficult to sustain above that level, since a large build up of longs above that level may trigger profit booking at that level.

However, utmost caution should be maintained, since NIFTY has to correct considerably in order to maintain healthy momentum.

3711.05 is likely in the short to medium term.

3491.2 and 3408 is likely to be tested on the lower side. But it might not happen in the immediate future.

Today's upper band lies at 3784.80. Today's lower band lies at 3482.80.

Support Levels:
3712.6333
3671.8667
3597.9333
3477.4667
3371.1333
3325.2167
Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
SRF LIMITED

OCT 30, 06
NIFTY OUTLOOK - TECHNICAL ANALYSIS
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NIFTY has finally breached all short term resistances and hit a high, after MAY correction. If this momentum is maintained, it may move up further breaching all time highs. But if it moves up further without a correction for some more days, then markets would be headed for a deep correction. Current rally is not a healthy one.

PCR OI is higher, indicating least possibility of deep correction(short term) .

An intraday low below 3540.45 (NIFTY) is likely. It may take some time.

3491.2 and 3408 are likely to be tested on the lower side.
More caution is required at these levels. Trade with strict stoplosses.

Today's upper band- 3764.90. Today's lower band- 3486.

Support Levels:
3597.90
3477.10
3371.13
3325.2167
3300.0167

Note: Views expressed here doesnot have any reliance to NIFTY futures.

Stocks to Watch
UB HOLDINGS
DCB
STONE INDIA
GMR INDUSTRIES
TULIP IT
BSEL INFRASTRUCTURE

OCT 27, 06
NIFTY OUTLOOK - TECHNICAL ANALYSIS
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NIFTY may move up further if it crosses important short term resistances at
3690.85
3693.70
3727

PCR OI is higher, indicating least possibility of deep correction(short term) .

An intraday low below 3540.45 (NIFTY) is likely. It may take some time.

3491.2 is likely to be tested on the lower side.
3408 is likely on the lower side.

More caution is required at these levels. Trade with strict stoplosses.

Today's upper band- 3741.85.
Today's lower band- 3486.

Support Levels:
3597.90
3477.10
3371.1333
3325.2167
3300.0167

Note: These views are with relevance to spot NIFTY. It has nothing to do with NIFTY futures.

Stocks to Watch
ADVANI HOTEL