Analysis of
S&P CNX NIFTY (70001247)

S&P CNX NIFTY closed down -147.150 at 2,994.950.  Volume was 85% above average (neutral) and Bollinger Bands were 56% wider than normal.

Technical Outlook

Support < Support < [[Crucial]] > Resist > Resist
2,799.2832 < 2,897.1165 < [[ 3,068.8333 ]] > 3,166.6665 >  3,338.3833

	the market is near to being balanced and the price might move in either direction.
	the momentum is up.
	The upward momentum is accelerating.
	This is a place to be alert for placing a long position but make sure that there is a valid Buy Signal outside the Teeth

Bharat Mudgal�s Comments:

The asian markets have been beaten down when at the time of writing hangseng is down almost 1000 points and gives no reason for us to expect a positive opening. However, since the ‘Mudgal Crash Oscillator – Shortest’ has given a BUY signal we will look for buying opportunity on the downside. Please note that everytime this indicator gives a buy signal the NIFTY first moves down for about three days before getting into an uptrend. At this point we would like to invest ONLY 40% of our total corpus.