October 26, 2014

Weekend update

Current trend is down and will revert to buy on close above 8000 spot.

Note strong resistance at 8200 levels.

Option writing points to support at 7800 (OCT series).

EOD charts: note that data for Diwali/ muhurat trading session is not considered.

Weekly charts: swing low has moved up from 7520 to 7720 spot.

Hourly charts: trend is up with resistance at 8030 spot. Close below 7920 can be bad for the markets.

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