Mar 5,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
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NIFTY close 3811.20. Sensex 13159.55.

Our prefered view is NIFTY should test wednesday's bottom(3674.85) before a bounce back. But it didn't. Let us hope the bottom level is tested this week. If NIFTY bounces back after it, a good rally could be expected.

Weak PCR OI might prevent NIFTY from moving up fiercely. But if shorts build up, which may require some consolidation, it might help NIFTY to strengthen.

NIFTY would test 4137.50(inevitable - sure) in the short to medium term. So,start buying (Buy here and buy in dips- systemmatic buying recommended)and enjoy profits in the shorter to medium time frame.

Upper Band ->4364.81

Lower Band ->3742.70


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

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PYRAMID SAIMIRA