iCharts Discussions

stockmode · Posted: Tue Sep 04, 2007 9:43 am Post subject: Nifty Report - Sept 04, 2007

Close: 4,474.7500
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Support < Support [[Crucial]] > Resist > Resist
4,434.4165 < 4,454.5830 < [[ 4,472.5664 ]] > 4,492.7329 > 4,510.7163

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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 signal to buy.

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Bharat Mudgal's comments:
The NIFTY is showing a bit of strength but traders seem to have a state of indecision. It will be a good strategy now to get out of speculative stocks and invest into mid-caps with strong fundamentals and growth. Keep reading our stocks report in the forum for more such stocks. The resistance for NIFTY is at 4620 and support is at 4337 > 4334.