HEY FIRST OF ALL A VERY HAPPY NEW YEAR 2016 TO ALL.
As per our previous post Nifty(spot) managed to give us a closing above 7860 as of now market structure does not looks convincing for an quick up move the volumes are really shallow we are to have some kind of directional move after 4th jan 2016 onward till then it will be trading in range of say 150-200pts i.e 7800-8000 now if (spot) nifty makes a closing above 7985 then that will be the first indication of bulls overpowering the bears, so for all shorts stp is 7985.
Going forward we still maintain markets to face resistance 7928/7946/7970
shorts can be initiated with strict stp 7985
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