Close: 4,482.2998

Support < Support < [[Crucial]] > Resist > Resist

4,266.4995 < 4,374.3994 < [[ 4,466.1997 ]] > 4,574.0996 > 4,665.8999

Technical Outlook

Short Term: Neutral

Intermediate Term: Bearish

Long Term: Bearish

· 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.

Bharat Mudgal’s comments

The gains in the morning session were given up in the later half of the day. The NIFTY made a low of 4358.30. Both these reasons kept NIFTY from giving any signal and the NIFTY still trades in the NEUTRAL zone. The NIFTY also close below the psychological support of 4500. For any fresh buy signal, the low must be above 4374 for a few days. Immediate resistance 4560 > 4630. Support for NIFTY exists at 4385 > 4371 in the short term.