TECHNICAL OUTLOOK 04 DECEMBER

Nifty 3997.60

Full contents of our Newsletter, including short term outlook of Nifty and short term trading calls are available for paid subscribers.


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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TECHNICAL OUTLOOK 01 DECEMBER

Nifty 3954.50

As previously mentioned, short term trend in nifty would remain bullish as long as Nifty stays above 3915 and in the upside it could test 4000 initially.

In the extreme short term, if Nifty sustains above 3938, it likely to test 3970. Above 3970, it could test 4000.

Today, If Nifty sustains above 3950, it is likely to test 3970 and above 3970, it could test 4000.

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ICICI Bank 869.50

The short term trend is looking bullish and it has potential of testing 950 in coming trading sessions. Buy on decline with a stop at 850.

If the level 850 is violated in the downside, it is likely to test 790. But, the short term bullish view would remain valid as long as it stays above 790.

Long term investors can continue to hold this scrip with a stop at 750 for a target of 1100 in coming months.



DELIVERY CALL


Aztec software 164.30

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 220 in coming weeks. Buy on decline with a stop at 145.



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