Friday, May 30, 2008

May 29,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4918.35. BSE SENSEX Closes at 16,525.37.

Avoid fresh longs - short term traders. Else - strict stop loss.

NIFTY chart pattern doesn't look rosy. NIFTY support level stays near 4600. So, be careful.Important support level was broken yesterday.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan from this level would yield good returns for positional traders. Buy in all dips. Sell them all at 5060.

NIFTY might test 5300+ levels within 10 trading sessions, if there is a good momentum.

Similarly, a low below 4720 could be expected if there is a deep correction.

Strength in the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out. A low below 5015 could be expected in short to medium term.

4610 to 4630 act as support levels.

Resistance levels stay near 4982 and 5210.

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

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

Charts of international gold looks good. Gold might test $980 - $1000 per troy ounce in medium to long term.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Thursday, May 29, 2008

May 29,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4918.35. BSE SENSEX Closes at 16,525.37.

It seems like a bounce back, but yet to get a confirmation. NIFTY turned back exactly at the support level. So, the support at 4835 remains unbroken. It is a consolation.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan from this level would yield good returns for positional traders. Buy in all dips. Sell them all at 5060.

NIFTY might test 5300+ levels within 10 trading sessions, if there is a good momentum.

Similarly, a low below 4720 could be expected if there is a deep correction.

Strength in the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out. A low below 5015 could be expected in short to medium term.

4835, 4610 to 4630 act as support levels.

Resistance levels stay near 4982 and 5210.

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

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

Charts of international gold looks good. Gold might test $980 - $1000 per troy ounce in medium to long term.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Wednesday, May 28, 2008

May 23,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4859.80. BSE SENSEX Closes at 16,275.59.

Lower tops and lower bottoms for the past few trading sessions don't augur well with NIFTY. NIFTY might test 4820 levels. But this is a good buying opportunity for medium to long term investors.

NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan from this level would yield a good returns for positional traders. Buy in all dips. Sell them all at 5060.

NIFTY might test 5300+ levels within 11 trading sessions, if there is a good momentum.

Similarly, a low below 4720 could be expected if there is a deep correction.

Strength in the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out. A low below 5015 could be expected in short to medium term.

4835, 4610 to 4630 act as support levels.

Resistance levels stay near 5200. So, if there is a upward momentum NIFTY might move up with vigor.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

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

Charts of international gold looks good. Gold might test $980 - $1000 per troy ounce in medium to long term.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Monday, May 26, 2008

May 27,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

Pullback likely.

Thursday, May 22, 2008

May 23,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 5025.45. BSE SENSEX Closes at 16,907.11.

Lower tops and lower bottoms for the past few trading sessions don't augur well with NIFTY. But NIFTY stays near support levels.Trend in world markets might have some influence in our markets for some time.

NIFTY might test 5300+ levels within 13 trading sessions, if there is a good momentum.

Similarly, a low below 4720 could be expected if there is a deep correction.

Strength of the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out. A low below 5015 could be expected in short to medium term.

4990, 4835, 4610 to 4630 act as support levels.

Resistance levels stay near 5090 and 5200. So, if there is a upward momentum NIFTY might move up with vigor.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

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

Charts of international gold looks good. Gold might test $980 - $1000 per troy ounce in medium to long term.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Wednesday, May 21, 2008

May 21,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 5104.95. BSE SENSEX Closes at 17,230.18.

No comments on further trend in NIFTY. NIFTY breached 5077.80, which we mentioned yesterday. So, its strength has reduced little bit. NIFTY is likely to test 5060 levels in short to medium term. Trend in world markets might have some influence in our markets for some time.

NIFTY might test 5300+ levels within 15 trading sessions, if there is a good momentum.

Similarly, a low below 4720 could be expected if there is a deep correction.

Strength of the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out.

4990, 4835, 4610 to 4630 act as support levels.

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

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

Charts of international gold looks good. Gold might test $980 - $1000 per troy ounce in medium to long term.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Tuesday, May 20, 2008

May 20,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 5157.7. BSE SENSEX Closes at 17,434.94.

NIFTY moved up as per our expectation. Charts indicate sharp volatility in short term. If NIFTY doesn't test 5077.80, it might move up to test 5240 levels in short term. 5210 levels may be the next crucial resistance level on the upper side. If NIFTY moves up beyond 5274 in today's trade profit booking could be resorted.

NIFTY is likely to test 5300 levels as well. It is a medium to long term target. Similarly, a low below 4720 could be expected if there is a deep correction.

Strength of the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out.

5077.80, 4990, 4835, 4610 to 4630 act as support levels.

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

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

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Friday, May 16, 2008

May 16,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4957.8. BSE SENSEX Closes at 16,752.86.

NIFTY likely to move up or down sharply in short term. Charts indicate such pattern. Momentum is likely to dominate. 5160 and 5210 levels may be the next crucial levels on the upper side.

NIFTY is likely to test 5300 levels as well. It is a medium to long term target. Similarly, a low below 4720 could be expected in short to medium term.

Strength of the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out.

5209.80 - Resistance levels.

4875, 4610 to 4630 act as support levels.

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

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

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Wednesday, May 14, 2008

May 14,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4957.8. BSE SENSEX Closes at 16,752.86.

NIFTY charts are not bullish. Further downward momentum might make it test support levels.

NIFTY is likely to test 5300 levels as well. It is a medium to long term target. Similarly, a low below 4720 could be expected in short to medium term.

Strength of the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out.

5095.75, 5209.80 - Resistance levels.

4875, 4610 to 4630 act as support levels.

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

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

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Monday, May 12, 2008

May 13,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4982.60. BSE SENSEX Closes at 16,737.07.

We expected a new trend to emerge yesterday. However, it is yet to emerge. So,this is a wait & watch game. No adventurous trade is encouraged at this level.

NIFTY is likely to test 5300 levels as well. It is a medium to long term target. Similarly, a low below 4720 could be expected in short to medium term.

Strength of the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out.

5095.75, 5209.80 - Resistance levels.

4875, 4610 to 4630 act as support levels.

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

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

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Tuesday, May 06, 2008

May 6,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 5192.25. BSE SENSEX Closes at 17490.90.

NIFTY charts display no trend. NIFTY is likely to test 5300 levels as well. It is a medium to long term target. 5147 will be tested in short to medium term, if there is a significant down trend.

NIFTY charts are looking good. Strength of the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out.

If NIFTY closes above 5285.10, then NIFTY would display an excellent chart pattern. However, no long position is encouraged for now. If any longs are to be adventured, it should have a strict stop loss. For intraday traders or jobbers anything beyond 5345 could be used to book profits or short.

NIFTY is likely to test 5000 levels and there is a technical confirmation for these levels to be tested. Similarly, in the worst case scenario, NIFTY could test a low below 4710 levels. So, trade cautiously with strict stop loss.

5368 level should be breached convincingly to confirm further bullishness.

5077,4875, 4610 to 4630 act as support levels.

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

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

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Monday, May 05, 2008

May 5,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 5228.2. BSE SENSEX Closes at 17600.12.

NIFTY closes above 200 day SMA again. NIFTY closed above 5200 levels on expected lines. Our first target level is acheived on Friday. NIFTY is likely to test 5300 levels as well. It is a medium to long term target.

NIFTY charts are looking good. Strength of the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out.

If NIFTY closes above 5285.10, then NIFTY would display an excellent chart pattern. However, no long position is encouraged for now. If any longs are to be adventured, it should have a strict stop loss. For intraday traders or jobbers anything beyond 5345 could be used to book profits or short.

NIFTY is likely to test 5000 levels and there is a technical confirmation for these levels to be tested. Similarly, in the worst case scenario, NIFTY could test a low below 4710 levels. So, trade cautiously with strict stop loss.

5368 level should be breached convincingly to confirm further bullishness.

4875, 4610 to 4630 act as support levels.

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

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

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Friday, May 02, 2008

May 2,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 5165.90. BSE SENSEX Closes at 17287.31.

NIFTY closes above 200 day SMA again. Few more closes above 200 day SMA is required to assume strength in charts. NIFTY is yet to close above 5200 target levels. It'll happen. Let us hope it to take place today.

If NIFTY closes above 5285.10, then NIFTY would display an excellent chart pattern. However, no long position is encouraged for now. For intraday traders or jobbers anything beyond 5297 could be used to book profits or short.

NIFTY is likely to test 5000 levels and there is a technical confirmation for these levels to be tested. Similarly, in the worst case scenario, NIFTY could test a low below 4710 levels. So, trade cautiously with strict stop loss.

NIFTY is likely to test 5300 levels as well. It is a medium to long term target.

4875, 4610 to 4630 act as support levela.

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

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

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Thursday, May 01, 2008

May 1,2008
-------------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 5165.90. BSE SENSEX Closes at 17287.31.

NIFTY closes above 200 day SMA again. Few more closes above 200 day SMA is required to assume strength in charts. NIFTY is yet to close above 5200 target levels. It'll happen. However, the time frame is unknown.

If NIFTY closes above 5285.10, then NIFTY would display an excellent chart pattern. However, no long position is encouraged for now. For intraday traders or jobbers anything beyond 5297 could be used to book profits or short.

NIFTY is likely to test 5000 levels and there is a technical confirmation for these levels to be tested. Similarly, in the worst case scenario, NIFTY could test a low below 4710 levels. So, trade cautiously with strict stop loss.

NIFTY is likely to test 5300 levels as well. It is a medium to long term target.

4875, 4610 to 4630 act as support levela.

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

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

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540