February 3, 2015

Market outlook

NIFTY is at upper end of expanding triangle... pattern implication calls for some more correction limiting itself to 8400-8500 levels.

Option writing points to support at 8600 and resistance at 9000 levels.

EOD charts:

Intraday charts: trend is still down with buy above level at 8850 spot. Intraday trades were all whipsaws.

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