NIFTY Outlook for 26th Jan 2009

NIFTY is now clearly at a potential support point. The rising diagonal line in the current box (which must be considered as the lower box) often provides support after the floor of the upper box has been broken. Watch NIFTY carefully - even if it rises tomorrow, there will still be the possibility that the 180 degree line may provide resistance.

Here's a simple range projection for NIFTY: (do not take it as a done deal!)

Possible High: 2,722.7 (43 points)
Possible Low: 2,636.8 (43 points)