Outlook for the coming week - 13Nov06 to 17Nov06

Broad Market Trend :
Momentum in select counters along with the sectoral rotation of funds continues to drive the market higher. But a micro analysis of the market shows that more than 30% of the Nifty stocks are already in a phase of a deep correction. So the market breadth is really not that healthy as the index movements. Yet, the bullish tone in some of the market heavyweights ensures that the indices continue to make higher supports. This time around, a new support base has been created above the Nifty level of 3725-3735 and the Sensex level of 12900-12950. The next important targets on the upside are at the Nifty levels of 3890, 3920 and the Sensex levels of 13470, 13570.