Tuesday, 6 October 2015

tecnicality & outlook for 7-10-15

THE TECHNICALITY
    · The above is a Nifty Spot Daily graph.
    · Resistances on NIFTY are 8171 / 8199 / 8225.
    · Support Levels for NIFTY are 8108 / 8074 / 8050.
    · Leg 'b' of larger triangle seems to have achieved the desired levels.
    · Some more upside wont be surprising but eventually to come down as we are in the 2ndcorrective.
    · Decline is on the cards which will open up leg 'c'.
    · Good Luck..
THE OUTLOOK
    · Bulls ruled the opening yesterday followed by weakness but then regained upside momentum.
    · Focus on higher levels as a short sell opportunity.
    · Stock specific trading is recommended.
    · Happy Trading..
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