Dec 04,06
NIFTY OUTLOOK - TECHNICAL ANALYSIS
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NIFTY may consolidate here before an uptrend or down trend. As mentioned earlier NIFTY has tested 3975 and reached a new high. But it has not tested the low of 3911.55. It is sure to occur but the time frame could not be ensured. PCR OI is encouraging, which prevents a huge downward correction below 200 points in NIFTY.

Immediate support lies at 3952.30 and 3907.30.

NIFTY has to correct considerably in order to maintain healthy momentum. But such a correction is not in the offing(short term).

3790 in the lower side is possible(medium term).

WARNING : TRADE WITH STRICT STOP LOSSES. NIFTY HAS SURGED MORE THAN 50% WITHOUT A SIGNIFICANT CORRECTION (2600 TO 4000).

Today's upper band lies at 3993.10. Today's lower band lies at 3736.

Support Levels:
3839.1
3712.60
3671.86
3597.93

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

Stocks to Watch(SHORT TO MEDIUM TERM)


GITANJALI GEMS
SUNIL TECH