ISLAMABAD (AFP) -- Pakistan has test launched a nuclear-capable medium range missile, two days after South Asian rival India conducted its first trial of a new ballistic intercept system.

The Pakistani Hatf 4 or Shaheen-1 missile -- Shaheen means "eagle" in Urdu -- has a range of 700 kilometers (437 miles) meaning it can hit targets deep inside neighboring India.

"Pakistani troops today conducted a successful launch of the medium range Hatf 4 or Shaheen-1 missile," the military said in a statement.

The test came as part of a continuing exercise by Pakistan's Army Strategic Force Command. On November 16 Pakistan test fired a Ghauri missile with a longer range of 1,300 kilometers (812 miles) away.

"The event marked the culmination phase of the training exercise and validated the operational readiness of the strategic missile group equipped with Shaheen-1 Missiles," the statement said.

Pakistan's Chairman of the Joint Chiefs of Staff General Ehsan Ul Haq witnessed the launch exercise at an undisclosed location.

He hailed "the high standards achieved during training which was reflected in the successful launch and the accuracy of the missile in reaching the target," the statement said.

"Pakistan can be justifiably proud of its defense capability and the reliability of its nuclear deterrence," he added.

Neighboring India announced on Monday that its first test of a missile designed to intercept other missiles had been a success.

The test saw a surface-to-surface Prithvi-II (earth) missile, which has a range up to 250 kilometers (156 miles), shot down over the Bay of Bengal by a similar missile fired seconds later.