Mar 31,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

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.