iCharts Discussions

[stockmode]

Close: 5,000.5498


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Support < Support [[Crucial]] > Resist > Resist
4,912.8501 < 4,956.6997 < [[ 4,986.5498 ]] > 5,030.3994 > 5,060.2495

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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:
Despite yesterday's movement, the upward momentum has slowed down. It will be prudent to use strict stoploss and be carefull. At current levels, it will be a good strategy to wait either for the market to correct and buy OR let the upward momentum increase ( now slowing ). In any case, we are ONLY interested in a long position.

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Stocks to Watch in the coming days are:
JET AIR, TATA STEEL, STERLITE INDS, REI AGRO, GAMMON, SHIV-VANI OIL, GITANJALI GEMS