iCharts Discussions

stockmode · Posted: Thu Sep 06, 2007 9:41 am Post subject: Nifty Report - Sept 06, 2007

Close: 4,475.8501
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Support < Support [[Crucial]] > Resist > Resist
4,431.5166 < 4,453.6836 < [[ 4,480.7168 ]] > 4,502.8838 > 4,529.9170
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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:

As mentioned in the previous reports, NIFTY is facing selling pressure as it is moving towards the resistance levels. It is advisable to reduce long position on upmove unless and until NIFTY close above the resistance of 4615 or when the momentum turns upward. Major resitance levels are 4570 and 4615. Support is at 4350.

nanchilvijay · White Belt Joined: 13 Jun 2007 Posts: 26

Today nifty poised to move around pivot 4440 and further come down to 4406 or further to 4380 and upmove may be not above 4466

nanchilvijay · White Belt Joined: 13 Jun 2007 Posts: 26

i appologise for the wrong assumption of the market move and for posting

nanchilvijay

stockmode · Posted: Fri Sep 07, 2007 9:47 am Post subject:

Its ok

I appreciate your post and reply Smile

keep posting. Goodluck!

Regards
Bharat Mudgal