June 4, 2014

Big range expected in JULY

Option writing points to a large trading range in JULY... current available levels are 7000 support and 8000 resistance.

JUNE levels are 7000 support and 7500 resistance.

Overall implication is limited upside this month while increasing chances of correction to 7100 levels. Thereafter strong rally leading to a new high in JULY.

Good times ahead...

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