Dated :- 26. 07. 2015

                                                                    NIFTY SPOT : 8521.55

Hi,

Readers,

Nifty moved exactly as was mentioned by me in my previous blog. As expected it faced resistance around 8670 and that too multiple times and fell down to close at 8521.55.

Overall view in Nifty is still the same as I have been regularly mentioning in my previous blogs. i.e. Nifty is sell on rise till it does not cross 8730 comprehensively.

What Next :-

Readers would remember that I had attached the Chart in my previous blog in which I showed two Head & Shoulder patterns and specifically mentioned that Bearish Head & Shoulder pattern is still on. And it was clearly mentioned that it is expected that Nifty will face massive multiple resistance going forward. The same happened.

Even still Nifty is in small trading range and even now also it is better to stay out of Nifty and play stock specific.

Because Nifty is facing too much resistance at 8670 to 8730 levels as expected. But simultaneously it is not giving clear signs to go short also. Because it is only below 8480 closing basis, that, Nifty will start becoming bearish. Thus volatility will be the name of the game.

Important resistance areas for Nifty is at 8670, 8730.

On the downside below 8480 Nifty will be bearish and below 8280 there is a breakdown in Nifty.

Also the coming week is an expiry week, thus expect volatility.

Trade Accordingly.