NSE NIFTY Analysis – Sept 08, 2010
NSE NIFTY Report –Sept 08, 2010
Technical Analysis
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.
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
If you enjoyed this article, subscribe to receive more just like it.
