Thursday, September 21, 2006

TECHNICAL OUTLOOK - 21 SEP

Nifty 3502.80

The short term trend in Nifty is looking bullish and it has potential of testing 3560-3570 level in coming trading sessions. And this view holds good as long as Nifty stays above 3480.

Positional traders can hold their long positions with a stop at 3480.


Today, if Nifty sustains above 3480, then it has potential of testing 3540 initially, and if it trades above this level, then further upside is possible.


Reliance 1128.00

The short term trend is looking bullish and it has potential of testing 1200 initially in coming trading sessions. Long positions can be initiated on price weakness, with a stop at 1115.