iCharts Discussions

[stockmode]

Close: 5,089.6499


Support < Support < [[Crucial]] > Resist > Resist
5,037.1162 < 5,063.3828 < [[ 5,105.4165 ]] > 5,131.6831 > 5,173.7168

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:

As said in yesterday’s NIFTY report, the NIFTY took strong resistance at 5150 and moved down. The level has now moved upto 5160 making it even more tough for the NIFTY to give a breakout. We are POSITIVE on the market but we surely need a close above 5160 now to start buying afresh.
For our subscribers, we will keep coming up with stock-specific calls and its better to trade on them rather than trying to catch the market trend. In the last one month, only one stock has hit stopLoss. Those are very good stats considering we come up with 4-5 calls per day.

Stocks we will be tracking on the upside are: OSWAL CHEM, CENTURION BANK of PUNJAB, IDEA

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]

thanks stock mode