November 10, 2014

Market outlook

Trend is up and will reverse on close below 7700.

Any correction from here will likely form a higher swing low (ideally around 7800 or above).

Option writing points to support at 8000 (NOV series).

EOD charts

Intraday 5 min charts hints at start of profit booking.

On 30 min charts, consider trend as up above 8290 spot. Close below this will be negative for markets.

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