Apr 27,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
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NIFTY CLOSE 4177.85. SENSEX CLOSE 14228.88.

NIFTY finally breaks the only crucial resistance at 4199.50. NIFTY likely to test 4217.90(yesterday's high), although the time frame cannot be predicted.

An intraday low below 4110 & 4060 could be expected in short/medium term.

Now, it is time to mention the lower side targets- an intraday low below 3575 is likely in the medium term. This doesnot mean that market would turn bearish immediately.

Immediate support level for NIFTY stays at 4056.40. No immediate resistances.

UPPER BAND-> 4236.75

LOWER BAND-> 3587.50

Upper band provides scope for some upside. 20 to 40 points above upper band may act as intraday resistance zone for NIFTY.

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

STOCKS TO WATCH
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SHREE RENUGA SUGARS