Buy Above : 8350 ( Closing Basis )
Sell Below : 8000 ( Closing Basis )
View : Above 8000 - Nifty is safe and could rally above life time high in coming months !!
But a break below 8000 might take Nifty to approx 7400 or below !!
INR - Trading above breakout & FII's Not buying - compounds this problem !!
Sell Below : 8000*
(* Closing Basis )
Nifty completed it's a-b-c correction pattern from highs of 9100 to lows at 8000. Nifty is now moving in between range of 8000 to 8500. Wave 1-2 formation is forming up !! Look to long Nifty at current levels 8100 - 8200.
View: Enter with Long Bias !!
Watchout: Stop Loss remains 8000 !!