as expected in last session nifty moved upward till 7950 and there on it reversed and consolidated whole day around 7880-7930 range
Now it looks like some kind of wave 3 or 5 was completed at yesterdays high and nifty now preparing for good fall at least 200-400 points in coming session ,By seeing the graph nifty most probably completed its up move or only one top above yesterdays high was pending.
Nifty preparing for fall of minimum 200-400 points as explained above.
So, longs need to to be exited at these levels as have to create short position for next month a explained above
Levels to watch on upside 7950 8000 8080 which will act as a strong resistance on upside
Levels to watch on downside 7870 7830 7800 which will act as a strong support on downside