Sep 7, 2007

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

NIFTY closes at 4518.60. Sensex Closes at 15616.30.

NIFTY is consolidating for the past few days and it is likely to test 4530 levels, which is inevitable and it is consistently being mentioned here, for the past few weeks that an intraday high above 4534 would be tested.

NIFTY likely to test 4440. However, the time factor would still remain unpredictable. Most of these technical levels would be tested. But some trigger or news driven factors would lead to these levels.

Resistance stays at 4626. support is near 4398.10.

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 -> 4605.90.

Lower band -> 4039.70.

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

Stocks to Watch
===============
NONE