Update on Nifty Spot

Exit shorts if you are carrying, market may bottom by tomorrow. In 8050-8100 range exit all shorts and build longs for the month with s/l if  prices sustain below 8000.  Or one can just exit shorts and wait it out for confirmation tomorrow.

Update on Nifty Spot

Intraday bullish above 8290 for Nifty Spot, if Nifty crosses 8333 by 10 AM tomorrow then the g-leg down would be considered over.

Nifty Spot Hourly Chart EOD 12th May, 2015

Many possibilities exist. g-leg down had to retrace a minimum of 38.2% of f-leg of the diametric, which it has done. Now, the g-leg  can go down maximum upto 7770-7800 range as par the present structure. The bias change or faster retracement from here only can confirm that g-leg down is over. Staying cautious and selling on rallies is a better idea till then.

Nifty and Banknifty Future Key Level(s) for 13th May, 2015

TRADE the Levels, Charts Can Adjust.

Nifty Future (Bias - Negative)

Weak Below / Strong Above 8164. 

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Banknifty Future (Bias -  Negative)

Weak Below / Strong Above 17672.

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