THE TECHNICALITY

· Resistances on NIFTY are 7728 / 7751 / 7801. · Support Levels for NIFTY are 7671 / 7644 / 7618. · For the 1st time in the last 1-year of corrective phase, we have witnessed a faster retracement of the previous fall which CONFIRMS the REVERSAL. · Last major decline was from 7512 to 6825 & consumed 16 trade sessions, which is retraced 100% in just 5 trade sessions. · The current Bull Wave appears to be a Zig - Zag Pattern as its first component. That indicates more steam left on the upside for the time as the 3rd leg of the Zig - Zag appears to be in process & the previous leg seems to have ended as a `Double Three' Leg (Check Graph). · Bottom line remains. Some more steam on the upside left followed by a limited decline, which will strengthen the next up wave. · Good Luck..

THE OUTLOOK · And again last week, Bulls dominated the innings as expected after a fail attempt by the bears. This is what we call `Trend'. And this is why we are successfully initiating buy on decline strategy & ride the trend strategy trades since last 3 weeks. · Domination of Bulls completed 4 weeks with unabated rally & strength as expected. · Hope my viewers took advantage of the fabulous Bull Run as recommended since past 4 weeks in both aspects like Equity Accumulation as well as F&O trade strategies. · The boring corrective phase appears to be history & the resumption of an interesting Trend is the present. · The first phase of the current rally has some more steam left after which some decline would be witnessed BUT it should be welcomed with the intention to re-enter favouring the Bulls. · Buy on decline remains the Sole strategy. Stock Specific trading appears to be promising. · Stock / Index Options should be rewarding provided the strategy & contract selection is right. · Happy Trading..