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.

Support < Support < [[Crucial]] > Resist > Resist
3,187.2998 < 3,338.9998 < [[ 3,424.5999 ]] > 3,576.2998 >  3,661.8999

On the daily charts, resistance is at 3678 and then at 3871. The major resistance is at 4001 and only on a close above this the NIFTY will come out of the downward momentum and be  neutral. On the downside, the support mentioned in the weekly report still exists at 3190.