iCharts Discussions

[stockmode]

Close: 4,709.6499


Support < Support < [[Crucial]] > Resist > Resist
4,627.2500 < 4,668.4502 < [[ 4,719.0000 ]] > 4,760.2002 > 4,810.7500


Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish


• We would only look for a signal to sell.
• The momentum is up.
• The upward momentum is accelerating.
• We would be hesitant to enter this market at present because we are only looking for a signal to sell but the Momentum has turned upward and Accelerating up. We would most likely stand aside in this situation until we have a valid buy signal above 5004


Bharat Mudgal’s comments:

Users following the NIFTY report regularly must have been in quite some profit following the strategy to reduce position at upmove till “Mudgal Crash Oscillator – Fast” is in a buy mode and the slower one is in a sell mode. It’s the same story today as well. However, the only reason to be more careful is that despite yesterday’s downside, the momentum for the NIFTY has turned upward and is accelerating up. Be careful and maintain tight stopLoss if you go short-selling in this market. The major support is at 4610 and resistance at 4772 > 4880. Have a great trading day!

"Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well."