Close: 4,074.8999

[hr]

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

3,857.3665 < 3,966.1328 < [[ 4,028.1165 ]] > 4,136.8828 > 4,198.8662

Technical Outlook

Short Term: Neutral

Intermediate Term: Bearish

Long Term: Bearish

· We would only look for a signal to sell.

· The momentum is downward.

· The downward momentum is accelerating.

· If already in this market we would take any valid sell signal. If no signals have been hit, we would watch for the first valid sell signal.

Bharat Mudgal’s comments:

The NIFTY is still in the neutral zone. Instead of getting our money stuck in an indecisive situation, we will wait for the NIFTY to give us a clear buy/sell signal. As said yesterday, if we isolate the NIFTY from the US crisis then I do not expect it to go below 3790. On the upside, major resistance is at 4335.

For today, resistance exists at 4107 > 4150 > 4232.