Close: 4,245.2500

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

3,961.0498 < 4,103.1499 < [[ 4,182.8999 ]] > 4,325.0000 >  4,404.7500

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 slowing. 

· This is an area to be cautious.  If you are short, consider protecting your profits.  If not in the market, be ready to sell lightly which must be confirmed by the downward momentum starting to accelerate.

Bharat Mudgal’s comments:

The NIFTY gave a strong up move from the support levels. Moving ahead, Resistance is at 4300 > 4404. Although the NIFTY has moved up strongly, the problems don’t seem to be over still. As of now, its best to be careful and keep booking profits unless we get a  better reason to go long.