iCharts Discussions

stockmode · Posted: Fri Oct 05, 2007 9:40 am Post subject: Nifty Report - Oct 05, 2007

Close: 5,208.6499
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Support < Support [[Crucial]] > Resist > Resist
5,082.2168 < 5,145.4341 < [[ 5,189.2671 ]] > 5,252.4844 > 5,296.3174
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Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
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We are only interested in a long position.

The momentum is upward.

The upward momentum is slowing.

This is an area to be cautious about placing a long entry, and if you are already long it might be time to tighten your stop.
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Bharat Mudgal's comments:

Volatility is at its highest and trading is not easy. Reliance Inds still looks good but is getting overBought. Infosys has gained upward momentum. Its best to keep your position hedged. Other stocks to Watch are ENTEGRA (32.55) and ENNORE FOUNDRY (222), INDIA INFOLINE (943), ALSTOM PROJECTS (872)