S&P CNX NIFTY closed up 27.050 at 5,604.000. Volume was 14% above average (neutral) and Bollinger Bands were 22% narrower than normal.

Technical Outlook

Short Term:Overbought

Intermediate Term:Bullish

Long Term:Bullish

• 
  
• We are only interested in a long position.
  
• The momentum is up.
  
• The upward momentum is accelerating.
  
• If not already long this is a good place to look for a valid signal to buy.

Bharat Mudgal’s comments:

The mid-term momentum has once again turned upward. The market is overbought and one can buy the stocks we recommend on every decline. We have got another signal on charts that’s indicating strong upmove in the mid-term.

The support for NIFTY is at 5448 and the mid-term momentum will remain upward till the spot NIFTY is closing above 5448.

S&P CNX NIFTY closed down -6.750 at 5,479.400. Volume was 7% below average (neutral) and Bollinger Bands were 41% narrower than normal.

Technical Outlook

Short Term:Neutral

Intermediate Term:Bearish

Long Term:Bullish

• 
  
• We are only interested in a long position.
  
• The momentum is up.
  
• The upward momentum is accelerating.
  
• If not already long this is a good place to look for a valid signal to buy.
  

Bharat Mudgal’s comments:

The market has been extremely range-bound. The possible reason seen on charts is that the momentum is neutral ( neither upward nor downward ). It is best to wait for a clear direction before we take any position now. The resistance on the upside is at 5515 and a move beyond this level will indicate further up move. On the downside, support is at 5450 > 5430. A close below 5430 might drag the NIFTY lower.

As of now, the charts indicate that the chances of downside are higher in the coming few days. There might be strong supply as the NIFTY moves close to 5500.

Stocks in Fresh Upward Momentum					Stocks in Fresh Downward Momentum
Security Name	Close	Volume	Crucial		Security Name	Close	Volume	Crucial
EIHAHOTELS	230	3654901	158.8922		HINDMOTOR	24.7	664024	24.8953
TATASTEEL	540.95	3572009	522.5364		BHEL	2386.25	429579	2452.16
ATLASCYCLE	279	1814788	234.9394		PATNI	450.75	331049	498.2182
JSWSTEEL	1164.25	766107	1132.345		SIEMENS	698.55	253603	707.1666
IPAVAVYD	107.55	634396	105.3833		PROVOGUE	60.95	198653	61.496
MANGCHEFER	38.35	604081	36.5078
COREPROTEC	279.3	481389	260.8214
USHAMART	88.55	220261	83.4508
MCDOWELL-N	1517.75	196870	1413.133

S&P CNX NIFTY closed up 69.450 at 5,471.850. Volume was 0% above average (neutral) and Bollinger Bands were 42% narrower than normal.

Technical Outlook

Short Term:Neutral

Intermediate Term:Bullish

Long Term:Bullish

• The market is near to being balanced and the price might move in either direction.
  
• The momentum is downward.
  
• The downward momentum is slowing.
  
• This is an ambiguous area, so be patient until the market gives a better reason for going either up or down. This is a dull market: remember that the biggest moves originate from dull markets.
  

Bharat Mudgal’s comments:

We gave a buy call to our subscribers on August 31 and since then the NIFTY has moved up very well.

Moving ahead, the NIFTY has moved up but the momentum is still neutral ( neither upward nor downward) and this calls for caution. It is advisable to wait and check the direction of the market in the coming days before we take any position. All the readers will be informed in the NIFTY Report about the market direction in the coming days.

The resistance on the upside is at 5530. The support exists at 5445 > 5424. The NIFTY must keep closing above 5424 now to show any strength.

Stocks in Fresh Upward Momentum					Stocks in Fresh Downward Momentum
Security Name	Close	Volume	Crucial		Security Name	Close	Volume	Crucial
ASHOKLEY	74.75	5561237	70.5476		IFCI	59.3	6411843	59.8859
SUJANATOW	61.3	1025514	56.7642		RENUKA	65.25	5834462	66.9515
ADSL	240.9	328479	234.1753		HDIL	259	5572874	269.9599
GABRIEL	61.8	264229	59.5979		IBREALEST	174.25	3456622	175.757
					INDIACEM	107.45	1140278	107.583
					LUPIN	356.8	802733	1552.605
					FORTIS	156.3	687482	156.4182
					APTECHT	145.6	413787	151.941
					TIMETECHNO	52.1	328770	53.5205
					NEYVELILIG	159.35	309735	161.2113

S&P CNX NIFTY closed down -69.200 at 5,408.700. Volume was 2% below average (neutral) and Bollinger Bands were 45% narrower than normal.

Technical Outlook

Short Term:Oversold

Intermediate Term:Bullish

Long Term:Bullish

• 
  
• The market is near to being balanced and the price might move in either direction.
  
• The momentum is downward.
  
• The downward momentum is accelerating.
  
• In this situation we wait until the price begins to follow the momentum. Be patient and wait for the price to move along with the momentum continuing downward.

Bharat Mudgal’s comments:

We informed all the paid subscribers that the short-sell indicator has given a sell signal. This resulted in huge profit in a single day.

Moving ahead, The spot NIFTY has lost the upward momentum and is in the neutral zone now. This does not mean that we can go short. What this means is that one should now wait and see if the NIFTY now gets back to upward or downward momentum. Which ever direction we get, we will ride the wave in that direction. At times it’s the best strategy to avoid trading in the markets or else one might get trapped.

The resistance on the upside is 5425 > 5455. On the downside, the support is at 5395 > 5404.

We informed our subscribers that the short-sell signal has given a sell signal. The market then fell down about 80 points from there and fetched huge profit to our subscribers.

If you also want to get our NIFTY trading calls then subscribe to our services by clicking here. Send a mail to bharatmudgal@stockmode.com if you have any questions/comments.

S&P CNX NIFTY closed down -38.400 at 5,505.100. Volume was 9% above average (neutral) and Bollinger Bands were 37% narrower than normal.

Technical Outlook

Short Term: Overbought

Intermediate Term:Bullish

Long Term:Bullish

• 
  
• We are only interested in a long position.
  
• The momentum is up.
  
• The upward momentum is accelerating.
  
• If not already long this is a good place to look for a Fractal or other signal to buy.
  

Bharat Mudgal’s comments:

The mid-term momentum is upward and will remain upward till the NIFTY is closing above 5418. We informed all the users that the market is overbought and that seems to be one of the reason for the sell-off in the last session.

On the upside, the resistance is at 5550.

The short-sell indicator is ******* (reserved for subscribers)

Stocks in Fresh Upward Momentum					Stocks in Fresh Downward Momentum
Security Name	Close	Volume	Crucial		Security Name	Close	Volume	Crucial
NSEIT	6117.6001	9448070	6108.4009		HDFC	624.25	1789162	2386.0942
NAGARFERT	31.75	4633870	31.2964		AEGISCHEM	313.45	555451	418.9609
IDFC	187.15	2309589	183.0945		MAYTASINFR	213.75	241077	215.4131
ZEENEWS	14.5	1062093	14.3244
LML	12.15	926431	11.4768
NISSAN	40.9	751002	39.1991
JSWSTEEL	1159.85	730973	1122.3237
GUJSIDHCEM	15.55	578139	14.4434
WSTCSTPAPR	98.2	540321	92.6548
ARCHIES	136.35	540077	120.5566
IL&FSTRANS	328.6	513151	299.9205
PHILIPCARB	210.5	502060	197.9458
VOLTAS	204.3	336478	204.011
DELTACORP	44.05	325394	42.2015
ACC	865.8	316699	845.5461
SANGHIIND	29.7	193268	26.358
TANTIACONS	90.35	152514	88.0685
MAHINDUGIN	69.6	143661	68.5588

S&P CNX NIFTY closed up 12.850 at 5,543.500. Volume was 4% above average (neutral) and Bollinger Bands were 39% narrower than normal.

Technical Outlook

Short Term:Overbought

Intermediate Term:Bullish

Long Term:Bullish

• 
  
• We are only interested in a long position.
  
• The momentum is up.
  
• The upward momentum is accelerating.
  
• If not already long this is a good place to look for a valid signal to buy.
  

Bharat Mudgal’s comments:

The mid-term momentum is upward. The upward momentum will continue till the NIFTY is closing above 5413. The market is overbought and that is reason for some concern. It’s best to buy stocks from our stock picks given to subscribers at every decline, if any.

There is absolutely not enough movement in the NIFTY during the day to come up with any trading idea. We are watching the movement closely and will keep our subscribres updated throughout the day.

The short-sell indicator is ****** (reserved for subscribers).

S&P CNX NIFTY closed up 61.050 at 5,540.200. Volume was 12% above average (neutral) and Bollinger Bands were 52% narrower than normal.

Technical Outlook

Short Term:Overbought

Intermediate Term:Bullish

Long Term:Bullish

• 
  
• We are only interested in a long position.
  
• The momentum is up.
  
• The upward momentum is accelerating.
  
• If not already long this is a good place to look for a valid signal to buy.
  

Bharat Mudgal’s comments:

NIFTY crossed 5488 yesterday and gave an indication that we might see a strong up move soon. The mid-term momentum of the NIFTY is upward and will remain upward till the NIFTY is closing above 5397.

The market is now overbought and there might be some profit booking. However, till the mid-term momentum is upward, there is nothing much to worry about. On the downside, there is some support at 5431.

Many of our stock-specific calls were up from 5-10%.

The short-sell indicator is in the ***** zone.

This report has a video screencast at http://www.youtube.com/watch?v=D3-eBEBodAc

S&P CNX NIFTY closed down -33.800 at 5,418.300. Volume was 20% above average (neutral) and Bollinger Bands were 61% narrower than normal.

Technical Outlook

Short Term:Neutral

Intermediate Term:Bullish

Long Term:Bullish

• The market is near to being balanced and the price might move in either direction.
  
• The momentum is downward.
  
• The downward momentum is accelerating.
  
• This is an area where whiplashes can occur and we would wait until the close is at least below 5381 on the Price Chart before looking for a valid sell signal.
  

Bharat Mudgal’s comments:

All the users were informed that the NIFTY is near a strong resistance zone and one should be cautious here-on. After the initial range-bound movement, the NIFTY was beaten down to a low of 5397.

The mid-term momentum is upward and will remain upward till the NIFTY is closing above 5381. A Close below 5381 will stop the upward momentum and indicate a downward move which can take the NIFTY down to 5098 > 5007.

There is a short-term support at 5375 and we might see some bounce-back from this level.

On the upside, the resistance is at 5488. One should be carefull till the NIFTY is below this level.

We will keep our subscribers updated with the trend through out the day.

This report has a video screencast at http://www.youtube.com/watch?v=p1p9shZGb6k

S&P CNX NIFTY closed up 35.650 at 5,452.100. Volume was 25% above average (neutral) and Bollinger Bands were 60% narrower than normal.

Technical Outlook

Short Term:Neutral

Intermediate Term:Bullish

Long Term:Bullish

• 
  
• We are only interested in a long position.
  
• The momentum is downward.
  
• The downward momentum is accelerating.
  
• This is an area where whiplashes can occur and we would wait until the close is at least below 5379 on the Price Chart before looking for a valid sell signal.
  

Bharat Mudgal’s comments:

Few days back I told that the NIFTY has strong support at 5372. The following day, NIFTY made a low of 5372.45 and the next day it bounced up sharply to a high of 5476.

Moving ahead, the mid-term momentum is upward and it will remain upward till the NIFTY is closing above 5379. However, there is a strong resistance level at 5488 for spot NIFTY. We might see some supply coming in around this level, so please be cautious

On the downside, before 5379, there is a minor support at 5414. A close below 5379 will indicate that the upward momentum is over and the NIFTY may move down to 5098 > 5014.

We will keep our subscribers updated with the trend through out the day.

The short-sell indicator is ******** (reserved for subscribers only)