April 27, 2015

Market outlook

- nifty closes below previous swing low and closes at lowest level for this year
- the first time nifty closed below previous swing low was in March
- now significant swing high is around 8850 spot
- minor swing high or resistance is 8500 level.
- next support is around 8000 levels
- option writing points to support at 8200 and resistance at 8800 (MAY series).

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