iCharts Discussions

stockmode

Close: 5,022.7998
[hr]

Support < Support < [[Crucial]] > Resist > Resist
4,956.6665 < 4,989.7334 < [[ 5,036.6167 ]] > 5,069.6836 > 5,116.5669

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish

¬
• 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.

Bharat Mudgal’s comments:
We are quite bullish on the nifty BUT there is a strong resistance at 5131 and we need to wait for NIFTY to close above this level to take fresh long position.
All the “Mudgal Crash Oscillators” are now in a buy zone. However, it has been noted that once the crash oscillators get in the buy zone, the market moves down a bit before starting a strong upmove. The first downside was observed yesterday and there could be one or two more such days, however, we are positive on the market. Also note that the momentum is upward but it is slowing down. So, we should also wait for the momentum to gain upward acceleration.

The immediate support for NIFTY is at 4921 > 4895.

Stocks we are watching today are : RPOWER, NATIONAL ALLUM, HCC

Have a great trading day!

"Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well."

eagleseyes · White Belt Joined: 24 Aug 2007 Posts: 56

Thanks stockmode ,
These days there are no charts attached with the post.... Crying or Very sad

stockmode · Posted: Thu Apr 24, 2008 9:49 am Post subject:

Will attach the charts later today Smile