TECHNICAL OUTLOOK 04 DECEMBER

Nifty 3997.60

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DELIVERY CALL


Gabriels 33.30

The scrip is in long term bull trend and it has good potential in the long run.

In medium term, chart indicates a rally towards 45 in coming weeks. Buy on decline with a stop at 29.


Havell’s(i) 333.30

The scrip is in long term bull trend and it has good potential in the long run.

In medium term, chart indicates a rally towards 450 in coming weeks. Buy on decline with a stop at 295.




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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