December 5, 2014

Weekend update

Trend is up and will reverse on close below 8300.

I am also looking at trendline support as shown on the chart.

Option writing shows increasing support at 8500 and diminishing resistance at 8700 levels... this is a
bullish sign.

India VIX is almost at record lows... not a good sign as it indicates lack of any fear in markets.

EOD charts: indicates rangebound trading

Weekly charts: no sign of any weakness... trend is still up.

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