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Friday, October 12, 2007

Daily Technical Analysis


Nifty — The index opened on a flat note and witnessed a rally throughout the day’s trading session. It ended the day with a gain of 84 points.

Upswing continues — Post its breakout from the 5000-5261 range, the index is exhibiting strength and has closed on a strong note. Support is around 5455-5424 range. Intra-day dips should find support around these levels.

Conclusion — Expect the upswing to continue with intra-day support around
5455-5424.