Apr 2,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
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S&P NSE NIFTY Closes at 4739.55. BSE SENSEX Closes at 15,626.62.

"we prefer tomorrow's low being tested today before a bounce back happens" - Quote from yesterday's post. NIFTY behaved as per our expectation.

We still maintain bullish stance. So, even a steep recovery could be witnessed in short term. NIFTY might test 4970 levels in short term. Market has provided an opportunity to investors for shopping, yesterday.

NIFTY is likely to test 5200 levels in short to medium term. 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.