| Wkly Technical Analysis: Get set to reap profits |
| Rex Cano / Mumbai April 29, 2007 |
| The NSE Nifty ended unchanged at 4,084 after coming in the striking distance of its all-time high at 4,245 by hitting the weekly peak of 4,218. The NSE index may face stiff resistance for its short-term target of 4,250. A break of 4,035 this week could see the index dropping to a low of 3,955. The weekly support and the resistance levels for the Nifty are as follows: the index is likely to face resistance around 4,145-4,165-4,180, while it may find support around 4,020-4,000-3,985. The Sensex moved with a positive bias for most of the trading week until the Friday selloff, which saw the index shedding the entire gains in a single day. The index from a low of 13,850 rallied to a high of 14,384 -- an intra-week gain of 534 points. However, in Friday |
