Dec 28,06
NIFTY OUTLOOK - TECHNICAL ANALYSIS
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NIFTY Close 3974.25. SENSEX Close 13859.69.

Momentum in the market is positive. An intraday high above 3997.75(short term) is ineviatable. Concentration in put writing implies the long positions build up in the market. However, trade cautiously. Today is a settlement day. Wild swings can be expected.

A close below 3801.65 is inevitable in the long term.

NIFTY charts has an indication for a new high, before the fall started. New highs could be expected this december/january period.

Immediate support lies at 3919. NO resistance.

Today's upper band lies at 4080.90. Today's lower band lies at 3735.35.

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

Stocks to Watch(SHORT TO MEDIUM TERM)

ASHOK LEYLAND. Minimum Target around 49.