December 3, 2014

Market outlook

Trend is up and will reverse on close below 8300.

Today markets traded in a range and failed to give any directional breakout. Ideally it should have crossed yesterday's highs but since it has not, one should start becoming cautious.

Levels to watch are 8560 and 8500 spot.... these are trend decider levels.

EOD charts: notice the increasing number of down bars.

Intraday charts... hourly... expect weakness below 8500 spot.

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