Jan 12,2007
NIFTY OUTLOOK - TECHNICAL ANALYSIS
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NIFTY Close 3942.25. BSE SENSEX CLOSE 13630.71.

Finally, Bull operators have driven NIFTY up to prevent NIFTY move into a bearish territory. NIFTY has a very good close, which ensures a close above 3954(inevitable) in the near future. If a pull back didnot happen yesterday, the resultant could have been a commencement of bear phase.

Similarly NIFTY has signalled a possible close below 3840 & 3801.65(inevitable), which may happen any time (short to medium term).


The best strategy in this market is to go for individual scrips, which would move up due to their fundamentals. Markets could move either way. It is better to trade with strict stop losses.

NIFTY charts has an indication for a new high. Anticipate new highs this month or next month.

Next resistance lies at 3988.15.

Today's upper band lies at 4069.32. Today's lower band lies at 3738.97.

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

Stocks to Watch(SHORT TO MEDIUM TERM)
NO STOCKS

Sector Specific NEWS:
* Sugar: Lifting of ban on Sugar exports gives some relief to sugar stocks.
* Banking: Provision of powers to RBI to reduce SLR is a good news for Banking stocks
It would have Long Term implications. When the liquidity dries
up, an ease in SLR and CRR would provide banks some liquid cash to lend.