TECHNICAL OUTLOOK 10 NOVEMBER

Nifty 3796.40

If Nifty sustains above 3810, then it is likely to see a sharp rally towards 3870. Instead if it moves below 3770 and sustains below this level, then in the downside, it could test 3715.

Today, If Nifty sustains above 3810, then it is likely to test 3850.


Infosys 2141.10

The short term trend is looking bullish and it has potential of testing 2200 in coming trading sessions. Buy on decline with a stop at 2120.

If it trades below 2120, in the downside, it could test 2090.

Long term investors can continue to hold this scrip with a stop at 1950 for good upside potential in coming months.


DELIVERY CALLS

Ashapura ltd 220.75

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 270 in coming weeks. Buy on decline with a stop at 195.



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.

asksathia@hotmail.com