iCharts Discussions

stockmode · Posted: Mon Oct 15, 2007 9:41 am Post subject: Nifty Report - Oct 15, 2007

Close: 5,428.2500
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Support < Support [[Crucial]] > Resist > Resist
5,313.3506 < 5,370.8008 < [[ 5,460.0503 ]] > 5,517.5005 > 5,606.7500
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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 up.
The upward momentum is accelerating.
If not already long this is a good place to look for a valid signal to buy.
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Bharat Mudgal's comments:
The momentum is upward but the market is quite overBought. The midTerm and longterm trend are both up. Since at this point we are only only interested in a long position, we will wait for the market to get balanced before taking any long position.
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Stocks to watch:
Rolta, Patel Engg, Bharti Ship, Havells, Emkay Shares