Market Overview - CashTheChaos

Daily Outlook for 07-Mar-2007:

Sensex

NSE Nifty (3655.65): Quite often, its the day after the rally that tells us more about the market than the rally day itself. If we can see follow up buying that gives another strong close, then it is quite possible we may have seen a bottom. As expected the falling window provided the resistance yesterday. The resistance for the Nifty on the way up is our earlier support of 3716, which becomes a resistance on reversed polarity. A retest of bottom is quite normal and healthy and can provide the second leg for the market to stand up. We have our astro date coming up on the 9th of March which normally has a toelrance of +1 or -1 trading day.

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