Apr 12,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
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NIFTY will test yesterday's high(around 3876) in short to medium term. Again if the high is tested, the new high would be tested some other day.

Though NIFTY has signalled a break out, it still stays indecisive. Nifty might consolidate or set a trend within a day or two little bit to get a trigger from INFOSYS guidance. A close above 3875.90, will make NIFTY further bullish. If it happens, NIFTY might move up well.

Immediate support level for NIFTY stays at 3813.90. Immediate resistance for NIFTY stays at 3908.60.

NIFTY will test 4137.50 in the future(inevitable - sure- medium term) any day. NIFTY has to strengthen again to test this levels.

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

STOCKS TO WATCH
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