Nifty today witnessed strong selling at the hands of FII to the tune of 1700 Cr. DII failed to provide any buying support.
Nifty has now shifted its base down towards 8350. Advance/Decline remained flattish with PNB being the star of the day shining with 5% gain.
Markets have remained in bears' hands according to our forecast in the later half of the series, and bearish time ends today.
So, we are expecting a sharp rise towards 8390 followed by sharp selling taking Nifty into a new swing low of sub 8300.
Trading advice for 29th July 2015
Exit any longs towards 8380 - 8400, and sell with 50 point stop loss.
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