iCharts Discussions

[stockmode]

Close: 4,732.3501


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Support < Support [[Crucial]] > Resist > Resist
4,485.1167 < 4,608.7334 < [[ 4,673.8667 ]] > 4,797.4834 > 4,862.6167

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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 previous session was just the kind of day that every trader/investor dreams of ( unless he is short! ). Moving ahead, the momentum has turned upward for sure. Nifty might scale new highs from here. Do not take over-leaveraged positions. We will still stick to more of dayTrading and less delivery calls. The support is now at 4480. Major resistance for NIFTY is 4955.
The sugar sector looks good in the short term. Some of the stocks we will watch today are :
BANNARIAMAN SUGA
DWARIKESH SUGAR INDS
KCP SUGAR (I) CO
KESAR ENTERPRISE
KOTHARI SUGARS
LCC INFOTECH
LLOYDS FINANCE
MAWANA SUGARS
OUDH SUGAR MILLS
SIMBHAOLI SUGAR
STC (I)
UNIPHOS ENT.
UPPER GANGES SUG
UTTAM SUGAR MILLS