Analysis of
S&P CNX NIFTY

Technical Outlook

Support < Support < [[Crucial]] > Resist > Resist
2,772.6831 < 2,832.6663 < [[ 2,920.2332 ]] > 2,980.2163 >  3,067.7832

	the market is near to being balanced and the price might move in either direction.
	the momentum is upward.
	The upward momentum is slowing.
	This is an ambiguous area, so be patient until the market gives a better reason for going either up or down.  This is a dull market: remember that the biggest moves originate from dull markets.

Bharat Mudgal�s Comments:

The momentum is downward and resistance is at 3135 > 3348. Only if NIFTY closes above 3348 then the NIFTY will come out of the downward momentum. On the downside major support is at 2360. The ‘Mudgal Crash Oscillator – Shortest’ is still in the buy ZONE.