Anand Rathi - Daily Technical Note- May 9 2007

Nifty and Sensex have exhibited a bearish candlestick.

Technically, one may use the level of 4000 (Nifty) and 13600 (Sensex) as the stop loss level.

Nifty faces resistance at 4185 and Sensex at 14225.

BSE Smallcap and BSE Midcap also exhibited bearish candlesticks.

CNX IT has lost ground.

In the Punter's zone we have a Sell in IDBI , ABB & RELIANCE INDUSTRIES.

In the Technical call section, we have a Sell in IDFC , RPL & TATA STEEL.

Anand Rathi - Daily Technical Note - May 9 2007