October 30, 2014

Market outlook

Trend is up and will reverse on close below 7800. Above 8200, rally possible to 8500 spot.

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 charts

Above 8100, nifty was just a buy and buy. Tomorrow look for weakness only below 8140 spot.

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