Dec 12,06
NIFTY OUTLOOK - TECHNICAL ANALYSIS
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Finally NIFTY has tested 3911.55, the level mentioned in this column for the past one week. Another level mentioned here is 3790 on the lower side. Yesterday NIFTY touched only 3798.30. So, this level might be tested today. Or there might be a relief rally. NIFTY should cross 3985.85 in the upperside to avoid bearish sentiment.

NIFTY has tested upper band on friday and lower band yesterday. If NIFTY goes below lower band by atleast 20 points, start buying stocks, systematically. Start buying in every dip, if the closing is below atleast 20 points today's lower band.

Immediate support lies at 3712.

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

Today's upper band lies at 4050. Today's lower band lies at 3815.3

Support Levels:
3899
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)

SPICE JET