NSE NIFTY Analysis – Aug 24, 2010
NSE NIFTY Report –Aug 24, 2010
Technical Analysis
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).
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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