Close: 4,008.2500

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

3,891.0835 < 3,949.6670 < [[ 4,033.1836 ]] > 4,091.7671 > 4,175.2837

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:

After days of uncertainity we now have a negative signal which indicates further downside. Support exists at 3790 and only on a break below this level we will have to look for another support.