Good morning. I came from North India tour for the past one week. Hence I could not update the blog. Now, I want to say that as per the monthly chart if nifty crosses 2550 to down side we just see a major down slide. Indicators are from Reliance stock. One huge open interest addition at these levels (20%) and falling of international crude prices, reduction of import duty on nafta make the share week forecast further. Also there may not be a good global cues to come. Maximum of Nifty 3050/3150 will come or not a big question. Huge open interest build up at nifty put 2500 level also shows that the level may breaks as we are in bare phase. (On earlier occasions huge open interest at puts and the markets were fallen below that level) One can buy 3000 call and 25oo put.
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