Anand Rathi - Daily Technical - May 17 2007

Nifty and Sensex have exhibited a narrow candlestick.

Technically, one may use the level of 4070 (Nifty) and 13900 (Sensex) as the stop loss level.

Nifty faces resistance at 4185 and Sensex at 14100.

BSE Smallcap and BSE Midcap exhibited narrow candlesticks.

CNX IT has lost ground.

In the Punter's zone we have a BUY in TV-18 , FSL & Indian Hotels.

In the Technical call section, we have a BUY in Era Construction , Lupin & Tulip.

Anand Rathi - Daily Technical - May 17 2007