TECHNICAL OUTLOOK 14 NOVEMBER

Nifty 3858.75

Nifty is likely to test 3910 level in coming trading sessions and it is likely to see some struggle around this level before moving up. This view holds good as long as Nifty stays above 3810.

Today, If Nifty sustains above 3868, then it is likely to test 3890.

Instead, if it fails to move above 3868, in the downside, it could test 3845.


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TCS 1077.00

The short term trend is looking bullish and it has potential of testing 1150 in coming trading sessions. Buy on decline with a stop at 1050.

It is likely to struggle around 1000 before moving towards 1150

In case if it trades below 1050, in the downside, it could test 1000. Even then, the bullish view would remain valid.

Long term investors can continue to hold this scrip with a stop at 950 for good upside potential in coming months.



DELIVERY CALLS

Jain irrigation 359.25

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 450 in coming weeks. Buy on decline with a stop at 315.



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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