Mar 9,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
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NIFTY close 3761.65. Sensex 13049.35.

NIFTY had a good rally yesterday. If this rally sustains and NIFTY closes above 3811.2, further positives could be expected, as it strengthens the chart pattern.

Immediate resistance for NIFTY stays at 3908.60. If it is tested and an intraday high above 3958.90 is tested then the further positives could be expected.

Significant support for NIFTY stays at 3420.50.

An intraday low below 3425.15 and a close below 3449.50 are inevitable, although the date & time at which it could take place couldn't be estimated. It might even happen after a rally.


On the upper side NIFTY would test 4137.50(inevitable - sure- medium term).

Upper Band ->4366.80

Lower Band ->3539.65

Significant support for NIFTY stays at 3420.50.


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

STOCKS TO WATCH
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