nifty outlook & tecnacality

THE TECHNICALITY · The above is a Nifty Spot Daily graph. · Resistances on NIFTY are 8150 / 8169 / 8199. · Support Levels for NIFTY are 8095 / 8051 / 8005. · Leg 'b' of larger triangle seems to have achieved the desired levels. · Leg 'c' of decline seem to have commenced which should follow by the remaining two components of the Triangular Wave (See Chart). · Volatility & a big range consolidation is a most likely phenomena for this month. · Basically, some more time left till we witness a trended bull market. · Good Luck..

THE OUTLOOK · Yesterday was a weak trading session although some volatility was witnessed in the second half. · Continue to look for higher levels as a short sell opportunity as we have been doing the same successfully since last 2 trading sessions. · Avoid any bull side strategy in the index. · Focus on stock specific trading as that would turn to be more rewarding. · Option trading time is right here. · Sector wise inverse movement is expected which would bring some volatility in the market. · Happy Trading..