iCharts Discussions

stockmode · Posted: Mon Sep 03, 2007 9:49 am Post subject: Nifty Report - Aug 31, 2007

Close: 4,464.0000

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Support < Support [[Crucial]] > Resist > Resist

4,377.8003 < 4,420.9004 < [[ 4,446.1001 ]] > 4,489.2002 > 4,514.3999
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Technical Outlook
Short Term: Overbought
Intermediate Term: Bearish
Long Term: Bullish
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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 buy.

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Bharat Mudgal's commnets:

The NIFTY Closed at 4464 and the major resistance for the week exists at 4630. Support is at 4320. A close below 4320 could take the NIFTY down to 4153 > 4045. We still do not have a valid buy signal on the charts.