Aug 1,2007

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

NIFTY closes at 4528.85.

NIFTY has got a trigger finally and moved upside, with just only one resistance at 4626.15. Yesterday's high would be tested sure. It looks like a bounce back. As mentioned in yesterday's post if it had closed below medium term sma, it could have been a turmoil.

NIFTY is sure to test 4345 and 4302 levels in the future(Medium Term).

Liquidity would be the dictating factor in the days to come. It is consistently mentioned about the possible lows in this page - "possible lows below 4145, 3985 and 3800 are inevitable." As per our view NIFTY has tested 4145. Expect the rest of the lows to be tested in some future date. The time frame for it to take place is unpredictable.

Upper band -> 4663.

Lower band -> 4300.


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

Stocks to Watch
===============
[NO STOCKS]-> As we advised profit booking for many weeks, no buy calls were mentioned here for many posts. We maintain the Status quo.