Nov 1, 06

NIFTY OUTLOOK - TECHNICAL ANALYSIS
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NIFTY may consolidate within 3700 to 3800 range before next move.

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 3796.60. Today's lower band lies at 3488.20.

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.

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