Mar 26,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
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NIFTY close 3861.05. Sensex 13285.90.

NIFTY has finally broke out and the rally continues. It might have to test few resistances before further rally. The initial resistance stays at 3908.60. A close above 3942 would further strengthen NIFTY. Any small dip could be utilised as a buying opportunity. It is a settlement week, so higher volatality could be expected this week.
PCR OI NIFTY is not so strong to support a huge rally. But it may strengher or move up in the weeks to come.

NIFTY will test 4137.50(inevitable - sure- medium term) any day. This rally might lead to the said target.

Immediate resistance and support for NIFTY stays at 3908.60 and 3840.46.

If 3908.60 is tested expect 3915.90.

Upper Band ->3962.10

Lower Band ->3508.19

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

STOCKS TO WATCH
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