nifty technicality 2-11-15

Resistances on NIFTY are 8132 / 8149 / 8180. · Support Levels for NIFTY are 8089 / 8051 / 8005. · We are already in the leg 'c' declining mode, which will go in phases & has lot of scope on the downside. · Another 3-5 weeks will confirm the completion of the 2nd corrective as technically it resembles in time & complexity to the 1st corrective. · The Indian Stock market did not react much on the global upsurge while the bias & momentum is negative. · Basically, some more time left till we witness a trended bull market as we are still in the 2ndcorrective phase. · Good Luck..

THE OUTLOOK · Higher levels should be considered as a short sell opportunity as we have been doing the same successfully since last 4 trading sessions. · Do not panic in any pullback mode as it would be just corrective in nature only to resume the decline again. · It is the right time for positional trading. · Focus on stock specific trading on a positional basis as many frontline stocks have developed extreme wave patterns, some favouring the bulls while some favouring the bears. · Option trading should be the most rewarding strategy at the moment. · Happy Trading..