nifty outlook for 7-12-15

THE TECHNICALITY · The above is a Nifty Spot Daily graph. · Resistances on NIFTY are 7821 / 7853 / 7912. · Support Levels for NIFTY are 7765 / 7725 / 7701. · As mentioned in the last few issues about one more downslide & we did witness the same. We have almost ended 4 months long 2nd Corrective which had began last August& hopefully we should resume the TRENDED market anytime soon in this month. · Refrain from falling into a Rumour based trap. · Time & complexity phenomenon is provoking the possibility of an extreme wave in the near future. · Stay less aggressive & keep the aggression mode in store as 2nd corrective will hopefully conclude in this month. · Good Luck..

THE OUTLOOK · Bottom Line remains the same that the Bears partied almost entire 2015 & are all set to pack up, while the Bulls should be welcomed aggressively. · Global cues would reason for a highly volatile atmosphere for another week. The best strategy should be seeking for every lower level as a buying opportunity. · Intraday traders should opt for a spectator mode with regards to Index for today while aggressive in selected stocks. · Auto, Banking& IT sector seems to be in the limelight for today. · Time for some positional strategy in sector specific stocks. · STOCK SPECIFIC trading is highly recommended. · Positional Option Strategy should be selective. · Happy Trading.