TECHNICAL OUTLOOK 09 NOVEMBER

Nifty 3777.30

If Nifty sustains above 3750, then the trend is likely to turn bullish. On the other hand, if it moves below 3750, then could test 3715 in the downside.

Today, If Nifty moves above 3780, then it is likely to test 3800 and above 3800, it could test 3815.


ACC 997.10

The short term trend is looking bullish and it has potential of testing 1050 in coming trading sessions. Buy on decline with a stop at 988.

If it trades below 988, in the downside, it could test 960.
Long term investors can continue to hold this scrip with a stop at 890 for good upside potential in coming months.



DELIVERY CALLS

Bayer (I)

The scrip is in long term bull trend and it has good potential in the long run.
In short term, chart indicates a rally towards 250 in coming weeks. Buy on decline with a stop at 175.



Medium term Outlook of Nifty (dated 01/11/2006)

The medium term trend in Nifty is looking bullish and it has potential of testing 4200 in coming months. And this view holds good as long as Nifty stays above 3600.

As the expected correction around 3800 level, is taking place as a running sideways correction, the present technical setup of Nifty suggests that there would be no major downside in the immediate future. And also if Nifty doesn’t violate 3600 level, we are likely to see a sharp up move towards the next medium term target in coming months.

Long term Investors can remain invested for the next medium term target of 4200 in coming months with a stop at 3600.


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