iCharts Discussions

stockmode · Posted: Thu Sep 13, 2007 9:34 am Post subject: Nifty Report - Sept 13, 2007

Close: 4,496.8501

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Support < Support [[Crucial]] > Resist > Resist
4,465.1499 < 4,481.0000 < [[ 4,506.2500 ]] > 4,522.1001 > 4,547.3501

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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:

I have been mentioning in the previous reports that NIFTY must cross 4548 to show short term strength and for the upward momentum to accelerate. Yesterday also the high was 4538. If NIFTY manages to cross and sustain above 4548 then the next resistance would be 4603. If at all NIFTY moves close to 4603 then one should start profit booking for the short term.

SwingTrader · Posted: Thu Sep 13, 2007 9:11 pm Post subject:

The other day I saw your message in shoutbox about not wanting to post yahoo id or email address so as to not violate our terms/conditions. We only restrict posting of website links. You are free to post your email address or yahoo id.

stockmode · Posted: Thu Sep 13, 2007 9:56 pm Post subject:

Thanks a lot Smile