| Week Ahead: Nifty to move in 4125-4250 range |
| MACRO TECHNICALS |
| Devangshu Datta / New Delhi February 11, 2007 |
| There is a resistance above 4200 which may be penetrated on an intra-day basis. |
| A week of range-trading ended with a sell off on Friday that left the major indices practically unchanged. |
| The Nifty closed at 4187 points for a gain of 0.09 per cent. The Sensex was up 0.94 per cent at 14538.9 points. The Defty was up 0.14 per cent as the rupee stayed strong. |
| Breadth signals were poor on Friday when declines far outnumbered advances. Volumes were reasonable throughout the week. The BSE 500 was up merely 0.16 per cent. |
| The FIIs have become markedly more bullish during February than they were in January. However, the Indian mutuals remain bearish in their approach and are net sellers. |
| Outlook: The market is likely to continue oscillating between Nifty 4125-4250 throughout this settlement. There is a clearly defined resistance above 4200 which may be penetrated on an intra-day basis. |
| Further, there is an evident secondary support at 4125 and higher up, there |
