Close: 3,602.3501

 

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

3,429.0168 < 3,515.6836 < [[ 3,668.2668 ]] > 3,754.9336 > 3,907.5168

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 on the Price Chart.

Bharat Mudgal’s comments:

There is no buy signal. There could be some up move due to the positive news inflow yesterday, however, things don’t look good on a broader scale. We would wait for a clear buy signal on the price charts before taking any long position.