Dated :- 08.11. 2015

                                                                  NIFTY SPOT : 7954.30

Hi,

Readers,

First of all    HAPPY DIWALI    to all.

Nifty moved exactly as was mentioned in my previous blog.

Nifty initially took support around 8000 levels and rebounded to 8116 levels and then again fell to 7926 and closed at 7954.

Important thing is that in spite of news all around. Nifty gave respect to the support level of 7880 to 7950 and took support there multiple times.

Now What :-

Now Bihar election result is out.

In these kind of instances Markets normally defies technicals. Also as per our policy we do not keep positions before any major news event.

Now I would like to wait and see market reaction which is expected to be –ve. for once may be upto any level.

Let the Market settle down first and then we will look at the technical picture again.

Wait and watch and Enjoy “DIWALI”.