Nifty Spot 30 Min Chart EOD 15th July, 2014

Last g-leg of 2nd corrective of Major F-leg is now in progress. If it is able to cross and sustain 7560-7580 levels it may retrace more of f-leg down. In the process traders must lighten their position and if not start building shorts for future fall in the form of Major G-leg down  or another x-wave down for the corrective major F-leg. Any which way a downmove is going to come soon. Enjoy the rally only till uptrend or bias remains(See Education)