Sep 10, 2007

NIFTY OUTLOOK - TECHNICAL ANALYSIS
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NIFTY closes at 4509.50.

As mentioned in previous posts NIFTY has tested 4534 levels on Friday. There are no further technical points to be tested in the upperside as per our analysis. But upper band might provide some hope, although it doesnot ensure upside. Expect markets to have a good plunge today. World market jitters are expected to affect our markets too.

NIFTY likely to test a low below 4440. However, the time factor would still remain unpredictable.

Resistance stays at 4626. support is near 4495.55.

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 -> 4613.55.

Lower band -> 4036.60.

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

Stocks to Watch
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