July 1, 2014

Market outlook

NIFTY closes above recent swing high on hourly charts... this is the second day. Holding swing low at 7450 is bullish.

Option writing points to support at 7000 and resistance at 8000... this is a big range.

Now close above 7700 level on weekly basis will be super bullish with a rally possible to 8000 maybe even 8500.

This is how hourly charts look...

And this is how the eod charts look like...

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