Monday, March 05, 2007
TECHNICAL OUTLOOK 5 MARCH
Nifty 3726.75
Nifty holding above the recent panic low of 3674 would indicate termination of correction. If Nifty violates 3674, then correction is likely to extend below 3650 towards 3550.
In the extreme short term, cross over of 3674 and 3765 would decide the direction of the trend.
Today, if Nifty sustains above 3674, then it is likely to rebound towards 3765. Instead, below 3674, Nifty is likely to see a final down leg.
The medium term trend in Nifty is looking bullish. Long term Investors can remain invested in the market with a stop at 3500.
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Monday, February 26, 2007
TECHNICAL OUTLOOK 26 FEBRUARY
Nifty 3938.95
As long as Nifty trades below 4030, the trend would remain weak and in the downside it could test 3850 and below this level it could test 3750.Instead, if Nifty trades above 4030, it would confirm the termination of the correction.
In the extreme short term, cross over of 3850 or 4030 would decide the direction of the trend.
Today it is likely to trade in between 3990 and 3850.
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