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Nifty Report - April 22, 2008 |
stockmode
White Belt
Joined: 08 Jan 2007
Posts: 79
Location: indore, india
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Post: #1  Posted: Tue Apr 22, 2008 9:23 am Post subject: Nifty Report - April 22, 2008 |
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Close: 5,037.0000
Support < Support < [[Crucial]] > Resist > Resist
4,917.9331 < 4,977.4663 < [[ 5,015.4331 ]] > 5,074.9663 > 5,112.9331
Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish
• We are only interested in a long position.
• The momentum is up.
• The upward momentum is accelerating.
• If not already long this is a good place to look for a Valid signal to buy.
Bharat Mudgal’s comments:
Goodmorning! The selling pressure from the NIFTY got over on April 15, 2008. However, we have not seen buying-force in the NIFTY yet ( i.e., it is neutral ). We will be very careful till we get a clear buy signal and maintain tight stopLoss. We will reduce some position near 5110 and “very” careful thereon. Support for NIFTY exists at 4970 > 4885 > 4837.
Stocks we are watching today are USHA MARTIN, UCO BANK, SUN TV, SRF, JINDAL STEEL, CORP BANK, BANK OF BARODA
Have a great trading day!
_________________
Everything is possible. We tell you whats more likely. |
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