Analysis of
S&P CNX NIFTY
as of 11/4/2008
Technical Outlook
| Short Term | Neutral | |
| Intermediate Term | Bearish | |
| Long Term | Bearish |
Support < Support < [[Crucial]] > Resist > Resist
2,925.8335 < 3,033.9670 < [[ 3,093.1335 ]] > 3,201.2671 > 3,260.4336
 | 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 |
Bharat Mudgal’s Comments:
The NIFTY is close to the immediate resistance of 3175, but the way the international markets have moved up it seems like this resistance will be crossed and then NIFTY will face resistance at 3397-3400 level. Only if it manages to close above this level then the NIFTY will come out of the downward bias. One of the three ‘Mudgal Crash Oscillators’ has given a BUY signal, this calls for 40% investment of your capital at current levels.
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