June 16, 2014

Market outlook

Immediate short term trend of nifty is down and is likely to worsen below 7450 spot or on break of green trendline.

Broader trend of nifty is up with swing low/ support at 7100 - this level also coincides approx with the 61.7% of the rally starting 6600.

Option writing is not giving any clear levels for support and resistance.

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