S&P CNX NIFTY closed down -169.750 at 3,065.150. Volume was 14% above average (neutral) and Bollinger Bands were 101% wider than normal.
Technical Outlook
| Short Term | Neutral | |
| Intermediate Term | Bearish | |
| Long Term | Bearish |
Support < Support < [[Crucial]] > Resist > Resist
2,933.6165 < 2,999.3828 < [[ 3,117.5664 ]] > 3,183.3328 > 3,301.5164
 | 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 |
Bharat Mudgal’s Comments:
International markets are down and beaten up. There wont be much to do today unless there is a late hour recovery sometime today. We are not looking for any support. Users have been informed time and again that the ‘Mudgal Crash Oscillator’ has been in a sell mode. At times its best to stand aside and watch the markets and wait for a good opportunity to enter, even if its at a higher level but when market is stable.
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