Apr 3,2007

NIFTY OUTLOOK (Based on TECHNICAL ANALYSIS)
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NIFTY close 3690.65.

As of now NIFTY pattern looks like a small pull back. But how far will it sustain is uncertain. NIFTY might test an intraday high above 3714 in short future.

The only significant support level left after huge fall is 3420.45. If NIFTY breaks the support level at 3550-3580, it is likely to test an intraday low below 3426.

Chart pattern fails to indicate any clear trend. It is chaotic. It is better to avoid trading at these levels.

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

Immediate resistance for NIFTY stays at 3908.60.

Upper Band ->3892.52.

Lower Band ->3549.39.

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

STOCKS TO WATCH
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