Nifty Positional View
Nothing has changed. Daily Oscillators and Indicators are going to convert in to Bearish mode. Moving average crossover is about to happen.(Bullish) I am very much frustrated to write about the same levels each and every week. (Buy above 7989 spot)
On Monday (05-01-2016) huge PUTS are longs were added and properly eliminated on Friday. On Friday huge shorts created and I hope those will be eliminated by gap down opening on Monday.
Expect some volatile down move in the early part of the week. small traders avoid trading and avoid taking huge overnight positions for the first two days. Then from Tuesday or Wednesday market will certainly give us a clear move.
Invalidation points : 7989 spot for Up move and 7702 spot is for the down move.
Sell on rise till 7859-7889 with SL 7989 Expected Target 7482( More Confirmation below 7702 , Closing below this level -1st Alert !!!! ).
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