Friday, April 27, 2007

Apr 27,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
___________________________________________

NIFTY CLOSE 4177.85. SENSEX CLOSE 14228.88.

NIFTY finally breaks the only crucial resistance at 4199.50. NIFTY likely to test 4217.90(yesterday's high), although the time frame cannot be predicted.

An intraday low below 4110 & 4060 could be expected in short/medium term.

Now, it is time to mention the lower side targets- an intraday low below 3575 is likely in the medium term. This doesnot mean that market would turn bearish immediately.

Immediate support level for NIFTY stays at 4056.40. No immediate resistances.

UPPER BAND-> 4236.75

LOWER BAND-> 3587.50

Upper band provides scope for some upside. 20 to 40 points above upper band may act as intraday resistance zone for NIFTY.

Note: These views do not have any relevance to NIFTY futures.

STOCKS TO WATCH
------------------
SHREE RENUGA SUGARS

Thursday, April 26, 2007

Apr 26,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
___________________________________________

NIFTY CLOSE 4167.30. SENSEX CLOSE 14217.77.

As mentioned yesterday NIFTY has moved aboave 4160 and had a good closing. If NIFTY tests 4177.70, it could gain further momentum or signal another intraday high above it. But the real resistance at 4199.50 stays untested.

An intraday low below 4110 & 4060 could be expected in short/medium term.

Now, it is time to mention the lower side targets- an intraday low below 3575 is likely in the medium term. This doesnot mean that market would turn bearish immediately. However, further upside targets are unpredictable.

Immediate support level for NIFTY stays at 4056.40. Immediate resistance for NIFTY stays at 4199.50.

UPPER BAND-> 4197.97

LOWER BAND-> 3592.22

Upper band provides scope for some upside. But other external factors like Reliance results might have some impact.

20 to 40 points above upper band may act as intraday resistance zone for NIFTY.

Note: These views do not have any relevance to NIFTY futures.

STOCKS TO WATCH
------------------
[no stocks]

Wednesday, April 25, 2007

Apr 25,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
___________________________________________

NIFTY CLOSE 4141.80. SENSEX CLOSE 14136.72.

NIFTY has tested the target 4137.50,which is being consistently mentioned for the past few months, even when markets looked bearish.

Now, it is time to mention targets in the lower side - an intraday low below 3575 is likely in the medium term. This doesnot mean that market would turn bearish immediately. However, further upside targets are unpredictable.

An intraday high above 4160 and an intraday low below 4060 could be expected in short/medium term.

NIFTY has to test 4199.50, which is the immediate resistance, to move up further beyond 4200.

Immediate support level for NIFTY stays at 4056.40. Immediate resistance for NIFTY stays at 4199.50.

UPPER BAND-> 4156.65
LOWER BAND-> 3604.37

20 to 40 points above upper band may act as intraday resistance zone for NIFTY.

Note: These views do not have any relevance to NIFTY futures.

STOCKS TO WATCH
------------------
LAKSHMI OVERSEAS

Tuesday, April 24, 2007

Apr 24,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
___________________________________________

NIFTY CLOSE 4085.10. SENSEX CLOSE 13928.33.

NIFTY moved well intraday yesterday. However, it has not yet tested the target 4137.50,which is being consistently mentioned for the past few months.

NIFTY has signalled indecisiveness. So, it requires a trigger for further momentum. RBI's policy measures and/or Reliance' results might act as trigger. Till then wait and watch.

Strengthening of PCR OI is a good sign. But it has to strengthen further if the market needs to stay bullish.

Immediate support level for NIFTY stays at 4056.40. Immediate resistance for NIFTY stays at 4199.50.

UPPER BAND-> 4116.70
LOWER BAND-> 3619

20 to 40 points above upper band may act as intraday resistance zone for NIFTY.

Note: These views do not have any relevance to NIFTY futures.

STOCKS TO WATCH
------------------
[NO STOCK]

Monday, April 23, 2007

Apr 23,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
___________________________________________

NIFTY CLOSE 4083.55. SENSEX CLOSE 13897.40.

NIFTY chart pattern looks good and an intraday high above 4090 is inevitable, though it need not take place in today's trade itself. It is consistently maintained in previous posts that NIFTY would test 4137.50 and we still stick to it. However, some fundamental news driven event like further liquidity tightening have some bearing on the upward momentum.

Strengthening of PCR OI is a good sign. But it has to strengthen further if the market needs to stay bullish.

Immediate support level for NIFTY stays at 3980.65. Immediate resistance for NIFTY stays at 4199.50.

UPPER BAND-> 4011.45
LOWER BAND-> 3588.25

20 to 40 points above upper band may act as intraday resistance zone for NIFTY.

Note: These views do not have any relevance to NIFTY futures.

STOCKS TO WATCH
------------------
HIND. OIL EXPLORATION

Wednesday, April 18, 2007

Apr 18,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
___________________________________________

NIFTY CLOSE 3984.95. SENSEX CLOSE 13607.04

NIFTY chart pattern looks good. But it has to strengthen little bit to gain further.
So, NIFTY requires some consolidation to hold the gains.

NIFTY has closed above upper band day before yesterday. It prevents further momentum. So, a small dip or consolidation may not be a surprise. An intraday low below 3969 could be expected shortly.

Immediate support level for NIFTY stays at 3890.15. Immediate resistance for NIFTY stays at 4199.50.

UPPER BAND-> 4011.45
LOWER BAND-> 3588.25

If NIFTY moves above upper band by 20-30 points it may retrace from the day's top.

NIFTY will test 4137.50 in the future(inevitable - sure- medium term) any day. NIFTY has to strengthen again to test this levels.

Note: These views do not have any relevance to NIFTY futures.

STOCKS TO WATCH
--------------------
CESC LTD.

Monday, April 16, 2007

Apr 16,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
___________________________________________

NIFTY CLOSE 3917.30. SENSEX CLOSE 13384.10

NIFTY chart pattern looks bullish. A close above 3965 could be expected in the near future.
Immediate support level for NIFTY stays at 3813.90. Immediate resistance for NIFTY stays at 3908.60.

UPPER BAND-> 3949.90
LOWER BAND-> 3581.80

If NIFTY moves above upper band by 20-30 points it may retrace from the day's top.

NIFTY will test 4137.50 in the future(inevitable - sure- medium term) any day. NIFTY has to strengthen again to test this levels.

Note: These views do not have any relevance to NIFTY futures.

STOCKS TO WATCH
--------------------
PARAMOUNT COMMUNICATIONS
TATA STEEL

Friday, April 13, 2007

Apr 13,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
___________________________________________

NIFTY close 3829.85. SENSEX close 13113.81.

NIFTY could tread up or down based on some triggers(INFOSYS RESULTS & other triggers). On the lower side NIFTY might test 3799.10 and on the higher side 3876.35 in the near future. But the level that would be tested first is unpredictable. It all depends on the market conditions.

A close above 3875.90, will make NIFTY further bullish. If it happens, NIFTY might move up well.

Immediate support level for NIFTY stays at 3744.20. Immediate resistance for NIFTY stays at 3908.60.

NIFTY will test 4137.50 in the future(inevitable - sure- medium term) any day. NIFTY has to strengthen again to test this levels.

Upper Band ->3929.40.

Lower Band ->3588.33.

Note: These views do not have any relevance to NIFTY futures.

STOCKS TO WATCH
--------------------
country club

Thursday, April 12, 2007

Apr 12,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
___________________________________________

NIFTY will test yesterday's high(around 3876) in short to medium term. Again if the high is tested, the new high would be tested some other day.

Though NIFTY has signalled a break out, it still stays indecisive. Nifty might consolidate or set a trend within a day or two little bit to get a trigger from INFOSYS guidance. A close above 3875.90, will make NIFTY further bullish. If it happens, NIFTY might move up well.

Immediate support level for NIFTY stays at 3813.90. Immediate resistance for NIFTY stays at 3908.60.

NIFTY will test 4137.50 in the future(inevitable - sure- medium term) any day. NIFTY has to strengthen again to test this levels.

Note: These views do not have any relevance to NIFTY futures.

STOCKS TO WATCH
--------------------
[no stocks]

Tuesday, April 10, 2007

Apr 11,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
___________________________________________

NIFTY close 3848.15. SENSEX close 13189.54.

Though NIFTY has signalled a break out, it still stays indecisive. Nifty might consolidate or set a trend within a day or two little bit to get a trigger from INFOSYS guidance. A close above 3875.90, will make NIFTY further bullish. If it happens, NIFTY might move up well.

Immediate support level for NIFTY stays at 3813.90. Immediate resistance for NIFTY stays at 3908.60.

NIFTY will test 4137.50 in the future(inevitable - sure- medium term) any day. NIFTY has to strengthen again to test this levels.

Upper Band ->3908.15.

Lower Band ->3586.75.

Note: These views do not have any relevance to NIFTY futures.

STOCKS TO WATCH
--------------------
Dhampur Sugars

Monday, April 09, 2007

Apr 9,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
___________________________________________

NIFTY close 3752. SENSEX close 12856.1.

Though NIFTY pulled back, still it has not gained good strength. NIFTY waits for a trigger to move either side. Infosys Guidance for FY08 might act as the next trigger. Till then markets may stay indecisive.

Next support level for NIFTY stays at 3675. Immediate resistance for NIFTY stays at 3908.60.

If NIFTY breaks the support level at 3550-3580, it is likely to test an intraday low below 3426.

NIFTY will test 4137.50 in the future(inevitable - sure- medium term) any day. NIFTY has to strengthen again to test this levels.

Upper Band ->3888.

Lower Band ->3578.

Note: These views do not have any relevance to NIFTY futures.

STOCKS TO WATCH
------------------
[NO STOCKS]

SECTOR WATCH
------------
SBI raises PLR. Watch Banking Stocks.

Wednesday, April 04, 2007

Apr 3,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
___________________________________________

NIFTY close 3690.65.

As of now NIFTY pattern looks like a small pull back. But how far will it sustain is uncertain. NIFTY might test an intraday high above 3714 in short future.

The only significant support level left after huge fall is 3420.45. If NIFTY breaks the support level at 3550-3580, it is likely to test an intraday low below 3426.

Chart pattern fails to indicate any clear trend. It is chaotic. It is better to avoid trading at these levels.

NIFTY will test 4137.50 in the future(inevitable - sure- medium term) any day. NIFTY has to strengthen again to test this levels.

Immediate resistance for NIFTY stays at 3908.60.

Upper Band ->3892.52.

Lower Band ->3549.39.

Note: These views do not have any relevance to NIFTY futures.

STOCKS TO WATCH
------------------
[NO STOCKS]

Tuesday, April 03, 2007

Apr 3,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
___________________________________________

NIFTY close 3633.60.

As mentioned yesterday NIFTY witnessed a huge fall because of lack of strength. The only significant support level left after huge fall is 3420.45. If NIFTY breaks the support level at 3550-3580, it is likely to test an intraday low below 3426.
Chart pattern fails to indicate any clear trend. It is chaotic. It is better to avoid trading at these levels.

NIFTY will test 4137.50 in the future(inevitable - sure- medium term) any day. NIFTY has to strengthen again to test this levels.

Immediate resistance for NIFTY stays at 3908.60.

Upper Band ->3893.70.

Lower Band ->3551.65.

Note: These views do not have any relevance to NIFTY futures.

STOCKS TO WATCH
------------------
[NO STOCKS]

Monday, April 02, 2007

Apr 2,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
___________________________________________

NIFTY close 3821.55.

NIFTY doesn't have any strength to withstand bears onslaught, if any. CRR and interest rate raise are definitely going to have an impact in NIFTY irrespective of chart patterns. PCR OI is very low indicating weakness. Similarly, Open interest in derivatives are very low, indicating least interest in markets. So, a downside is expected in the opening itself.

The sectors expected to underperform includes banking, automobiles, real estate,etc.
FMCG & Pharma may be the sectors used to support the markets.

Support levels for NIFTY:
3784.75
3738.75
3655.00
3420.45

If the markets correct well, then we could expect an intraday low below 3425.10 in short term.

NIFTY will test 4137.50(inevitable - sure- medium term) any day. NIFTY has to strengthen again to test this levels.

Immediate resistance for NIFTY stays at 3908.60.

Upper Band ->3901.20.

Lower Band ->3561.05.

Note: These views do not have any relevance to NIFTY futures.

STOCKS TO WATCH
------------------
[NO STOCKS]