NSE NIFTY Analysis – April 06, 2010
S&P CNX NIFTY closed up 77.900 at 5,368.400. Volume was 31% below average (neutral) and Bollinger Bands were 27% narrower than normal.
Mudgal Crash Oscillator
Technical Outlook
Short Term: Overbought
Intermediate Term:Bullish
Long Term:Bullish
- We are only interested in a long position.
- The momentum is downward.
- The downward momentum is slowing.
- This is an area to be cautious. If you are long consider protecting your profits. If not in the market, be ready to buy lightly which must be confirmed by the momentum turning upward.
Bharat Mudgal’s comments:
The momentum has been upward for the NIFTY ever since it was at 5124. We have been correctly telling on the regular readers that the NIFTY is in an uptrend.
Our NIFTY Analysis system has not given a sell signal yet. However, it may give a sell signal very soon. Those who have already bought it will know when it gives a sell signal. Those interested in purchasing the system may go to http://stockmode.com/markets/metastock-system/
Our intraday trading system ( 5 minutes ) gave a buy signal at 5296 and the NIFTY has closed at 5365 today. Please look at the chart below ( You can purchase this intraday trading system specifically for NIFTY FUTURE – mail to bharatmudgal@stockmode.com for details )
Moving ahead, the momentum is up and will remain up till the NIFTY is closing above 5145. However, considering the current state of our intraday trading system, it is advisable to protect your profits by using well-calculated stopLoss.
Category: Market Trend Report
About the Author (Author Profile)
I am the research analyst at stockMode Networks. If you have reached this website then you must be interested in the Indian Stock Markets. Explore the posts published here and feel free contact me at any time.Subscribe
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