| View previous topic :: View next topic |
| Author |
Nifty Report - Important - Oct 09, 2007 |
stockmode
White Belt
Joined: 08 Jan 2007
Posts: 79
Location: indore, india
|
Post: #1  Posted: Mon Oct 08, 2007 8:46 pm Post subject: Nifty Report - Important - Oct 09, 2007 |
 |
|
Close: 5,085.1001
_______________________________________
Support < Support [[Crucial]] > Resist > Resist
4,895.1670 < 4,990.1338 < [[ 5,119.7168 ]] > 5,214.6836 > 5,344.2666
_______________________________________
Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
_______________________________________
We are only interested in a long position.
The momentum is downward.
The downward momentum is accelerating.
This is an area where whiplashes can occur and we would wait until the close is at least below 4869 before looking for a valid sell signal.
_______________________________________
Bharat Mudgal's comments:
In the previous NIFTY report it was said, " It is advisable to avoid trading in index stocks. We cannot give a short call yet as the momentum is still up, however, caution is the word." The reason was obvius today. Moving ahead, things do not look very good in the short term. We have got our first alert on charts singnaling a strong short term correction. We might get the second one soon ( say in a day ). One can go SHORT on NIFTY FUT on upmove with stopLoss at 5265 for SPOT NIFTY. Major support for NIFTY is at 4869 > 4740. |
|
| Back to top |
|
 |
|
| |
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You cannot download files in this forum
|
Powered by phpBB © 2001, 2005 phpBB Group
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
