July 7, 2015

Market outlook

- trend is up on daily and weekly charts
- trend reversal level on daily charts is 8200 spot
- today advance decline was mildly positive
- option writing points to support at 8000 and resistance at 8500
- on a different note, there was a cut in OI in both 8000 put and 8500 call
- and also an increase in IV
- this means lot of volatility is expected

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