TECHNICAL OUTLOOK 23 NOVEMBER

Nifty 3954.75

Nifty is with in our target range of 3950-4000. Now, Nifty is likely to struggle around this region before moving to the next higher target.

In the extreme short term, if Nifty sustains above 3950, it likely to test 4000.

Today, If Nifty sustains above 3950, it is likely to test 3985 and above 3985, it could test 4000.


TCS 1143.00

The short term trend is looking bullish and it has potential of testing 1250 in coming trading sessions. Buy on decline with a stop at 1115.

Long term investors can continue to hold this scrip with a stop at 1050 for a target of 1500 in coming months.



DELIVERY CALL

India cements 225.30

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 300 in coming months. Buy on decline with a stop at 200.

In the extreme short term, if the scrip fails to sustain above 220, it is likely to decline towards 200 level.



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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TECHNICAL OUTLOOK 22 NOVEMBER

Nifty 3918.25

The short term trend in Nifty is looking bullish, and it is likely to test 3950-4000 level in coming trading sessions and this view holds good as long as Nifty stays above 3850.

In the extreme short term, if Nifty sustains above 3910, then it could test 3960. If it fails to sustain above 3910, then it is likely to decline towards 3885.

Today, If Nifty sustains above 3910, then it is likely to test 3960.



IPCL 282.85

The short term trend is looking bullish and it has potential of testing 330 in coming trading sessions. Buy on decline with a stop at 270.

If it trades below 270, then it is likely to decline up to 245.

Long term investors can continue to hold this scrip with a stop at 245 for a target of 400 in coming months.

DELIVERY CALL

United Phosphorus 29.45

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 40 in coming months. Buy on decline with a stop at 25.



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.


www.waveriders.in


asksathia@hotmail.com