Feb 13,2007

NIFTY OUTLOOK - TECHNICAL ANALYSIS
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NIFTY Close 4058.30.

"An intraday low below 4165.85 & 4056.45 are inevitable, although the timeframe could not be fixed."- A quote from yesterday's post. NIFTY has finally tested the mentioned points(intraday).

The immediate support level is at 4018.70. If it is tested, 4002 is inevitable, which need not happen immediately.

If NIFTY closes above upper band by 20-30 points, start booking your profits systematically.

NIFTY has signalled a possible close below 3840 & 3801.65(inevitable), which may happen any time (medium term). But it is difficult to specify the time frame.

The best strategy in this market is to concentrate on individual scrips, which could move up due to their fundamentals.

Today's lower band lies at 3926.81.

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

Technical Calls:
Buy HINDUSTAN LEVER at prices below 199.70 and Sell at 199.70(intraday).
If the price dips below your buy price buy systematically and take delivery, which would fetch you profits, when the stock moves up, which is sure.

Similarly buy ITC below 168.80 and sell at 168.80(intraday). If the price falls below your buy price to take delivery. It would fetch you sure profits when the stock moves up, which is inevitable.

Note:
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There will be no updates or new page/post tommorow due to some maintenance work in the office.