Dated :- 30.08. 2015

                                                                  NIFTY SPOT : 8001.95

Hi,

Readers,

Nifty is posing a technical rebound.

Nifty has given close just below the bearish Head & Shoulder pattern (H&S pattern) on weekly line chart.

Interestingly, simultaneously Nifty has given close just on the Bearish Head & Shoulder pattern line (H&S pattern) on weekly Candle chart.

See how beautifully the charts are tried to be crafted. Where line chart is showing that Breakdown of Bearish H&S pattern has come and the Candle chart is showing that Breakdown is still pending.

Another important observation I would like to share with readers is that Nifty has also made Hammer on weekly charts. This hammer is important and has to be given weight age.

Now What :-

Now Nifty is expected to move in a range for the mean time as the Volatility index is high and smart money may want to eat premium in options. That Hammer in the weekly chart will help in that. I expect Nifty to move in the range somewhere between 7800 to 8230 for a few days.

Trade on Stock specific basis and expect Nifty to be in a range with volatility.

Trade Accordingly.