June 19, 2014

Market outlook

On EOD charts, consider trend up as long as nifty trades above 7480 spot.

Note that while trendline was broken intraday, nothing happened and there was no further selling.

Option writing is showing signs of call writing implying limited upsides.

On intraday charts, nifty has got good support at 7485 spot. Sustaining above 7600 will be bullish while break of 7485 spot can lead to further downsides.

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