Dated :- 14.07. 2016                                 NIFTY SPOT : 8519.50

Today Nifty made a high of 8550 and closed at 8519.

Till now we have been waiting for the trading opportunity to come.

I have been mentioning that I will not be buying now and wait patiently for the sell opportunity to come.

Now I believe that intermediate top is not far away.

Now, I will look for selling opportunities because my charts are indicating that Nifty is preparing itself for lower levels.    

Hence, no point carrying any long positions.

It may be very surprising for readers because generally people on the street are highly bullish.

But I am writing, what charts are giving indication of.

Readers please note that whatever I am writing as on today is on the basis of the charts as on today.

However, Major macro news events both Global and Domestic and the passage of GST and appointment of new RBI Governor which Market may take positively as far as cutting rate are concerned and Very Important results which are about to come in 2 - 3 days of Index heavyweights can force us to change our view. But standing as of now the view is mentioned above. We will review it if and when the need be.

Date and time of updating the blog 14-07-2016 at 08.41 a.m.