Close: 4,126.8999

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

4,049.6997 < 4,088.2998 < [[ 4,156.5000 ]] > 4,195.1001 >  4,263.3003

Technical Outlook

Short Term: Neutral

Intermediate Term: Bearish

Long Term: Bearish

• We would only look for a signal to sell.
• The momentum is up.
• The upward momentum is accelerating. 
• We would be hesitant to enter this market at present because we are only looking for a signal to sell but the Momentum and Acceleration are both up.  We would most likely stand aside in this situation until we have a valid buy signal.

Bharat Mudgal’s comments:

We still have a negative signal. But the thing to be noticed is that despite the downside, the momentum has turned upward and is accelerating upward. In such case we will avoid taking short position. The resistance is at 4250 > 4290.