May 25, 2015

Market outlook

- we have a sell on nifty spot as index breaks 2-3 days low
- enough warnings in past few days specially the breadth
- expect more weakness below 8200 spot
- this correction can lead to formation of higher swing low
- this means assuming 8000 holds in JUNE we can expect new highs
- option writing supports this view with initial writing levels at 8000 put 9000 call
- this is a huge range

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