Mar 31,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
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NIFTY Closes at 4942. SENSEX Closes at 16,371.29.

After long time NIFTY's chart is looking fantastic. NIFTY is likely to test 5200 levels in short to medium term.

NIFTY has crossed the medium term sma after Feb 29 for the first time. If NIFTY doesn't close below 4847, it would further ensure bullish trend.

Day charts ensure an intra day high above 4970 in short to medium term. Unless any news from external front affects the market, bullish momentum is likely to be maintained.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.

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

Mar 5,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
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NIFTY Closes at 4864.25. SENSEX Closes at 16,339.89.

NIFTY faces a very critical situation. Either,it has to bounce back to form a good chart pattern or else face another spell of correction.

NIFTY could move either way with steep volatality. This is a new trend setting day.
Only if NIFTY closes above 5060 levels, further bearishness could be contained.

As we mentioned earlier, NIFTY is likely to test 6260 and 6345 levels. So, there is no need for any panic. Patience should be maintained at least until 6250 is tested. A close near 5700 in medium term is imminent.


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