May 10, 2015

NIFTY monthly charts

- trend is up on monthly charts
- second month of lower high lower low formation
- topping bar was an "outside" bar
- current bar levels are 8000-8400 spot
- monthly close below 8000 will lead to start of bigger correction (this correction so far is a minor one).
- so if you are long from 6500 levels, your current SL is 8000 spot.

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