Nifty : Long : Stop Loss - 7750

NSE:NIFTY   Nifty 50 Index
227 0 8
Long Nifty             : Long at 7970 - 7900
Stop Loss : 7750

We expect this to be a completion of wave 4 correction !!
On other hand USDINR             is trading at life highs !!
Both of the above are either oversold or overbought !!

Looking at other coming events
-- Rate cut of 50 bps             by RBI in december - expected (25 bps             factored in )
-- FED Meet - markets prediction are now wrong or say biased --- we expect dollar to cool off and gold to touch 1400 in coming 2 months -- only possible if FED Stays Put or even if FED hikes 25 bps             , it is already factored in so Dollar is going to cool off !!

Looking at today if by chance Nifty             opens gap up tomorrow (8020) and closes with some gains -- it might be the start of final wave 5 for Nifty !!
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