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Nifty Report - Sept 07, 2007 |
stockmode
White Belt
Joined: 08 Jan 2007
Posts: 79
Location: indore, india
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Post: #1  Posted: Fri Sep 07, 2007 9:44 am Post subject: Nifty Report - Sept 07, 2007 |
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Close: 4,518.6001
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Support < Support [[Crucial]] > Resist > Resist
4,418.6001 < 4,468.6006 < [[ 4,495.5503 ]] > 4,545.5508 > 4,572.5005
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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:
Nifty is now very close to the resistance of 4567-4570 and it might face a lot of selling pressure near this level and might not be easy to cross and sustain above it. If it does then the next target would be 4612. Since the upward momentum is slowing down, it is advisable to reduce long positions at upmove as the NIFTY nears the resistance of 4570. |
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