Close: 4,110.5498

[hr]

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

4,025.1162 < 4,067.8325 < [[ 4,120.2163 ]] > 4,162.9326 > 4,215.3164

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 above 4270.

Bharat Mudgal’s comments:

Once again the NIFTY has showin weakness on the charts after being balanced for one day. The market has been very unpredictable. Its best to avoid any delivery based long positions till NIFTY closes above 4270 for a few days. Intraday resistance is at 4160 and support is at 4080.