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Nifty Report - May 05, 2008 |
stockmode
White Belt
Joined: 08 Jan 2007
Posts: 79
Location: indore, india
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Post: #1  Posted: Mon May 05, 2008 9:38 am Post subject: Nifty Report - May 05, 2008 |
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Close: 5,228.2002
Support < Support < [[Crucial]] > Resist > Resist
5,140.3003 < 5,184.2505 < [[ 5,241.5503 ]] > 5,285.5005 > 5,342.8003
Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
• 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:
The markets showed a lot of resilience last week. And the NIFTY has been moving very much as per expectations.
Moving ahead, NIFTY is in a short term uptrend which may take it to 5395-5400 levels In the coming days. On the downside, support exists at 5080 > 5013. Today, a close above 5187 would strengthen our view of an up move up to 5400 levels.
"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."
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Everything is possible. We tell you whats more likely. |
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