Mar 29,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
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NIFTY close 3761.1.

NIFTY didnot test the crucial support at 384.46. If it is maintained, it could commence the upward journey again with ease.

If the direction of the NIFTY changes and tests the previous support levels around 3550, further dips could be expected, which would lead to levels around 3425.

It is settlement day. So it might be difficult to predict today's trend. Even there is a possibility of higher volatality.

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 ->3910.2

Lower Band ->3553.93

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

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