Mkt Technicals: Outlook optimisticVijay Bhambwani / Mumbai December 26, 2007The markets opened higher on Monday, and proceeded to extend early gains as the bulls celebrated the weekend gains on the Dow Jones. The prospects of early elections having diminished, the sentiments were further boosted.The combined exchange market breadth was positive as the BSE & NSE combined figures were 2834 : 1255. The capitalisation of the breadth was also positive as the commensurate figures were Rs 18,105 crs : Rs 1,799 crs.The F&O data for the session indicated a 1.02 per cent increase in net long positions amid a rising PCR.The indices have closed at the upper end of the intraday range as the bulls prevailed over the bears and maintained their initiative till the fag end of the session. As I had advocated over the weekend, the oriental charts indicated a
