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Nifty Report - Sept 17, 2007

 
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Author Nifty Report - Sept 17, 2007
stockmode
White Belt
White Belt


Joined: 08 Jan 2007
Posts: 79
Location: indore, india

Post: #1   PostPosted: Mon Sep 17, 2007 9:33 am    Post subject: Nifty Report - Sept 17, 2007 Reply with quote

Close: 4,518.0000


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Support < Support [[Crucial]] > Resist > Resist
4,462.7334 < 4,490.3667 < [[ 4,536.4834 ]] > 4,564.1167 > 4,610.2334

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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:

The NIFTY is now near the strong resistance zone of 4600 > 4650. It might not be easy for the NIFTY to sustain above this zone and it is advisable to keep booking profits near this zone and then wait for a decline to the support levels of 4433 > 4406 > to enter fresh long. The immediate support exists at 4442.
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