Markets give a fantastic weekly close ... trend remains up and will reverse on close below 8300.
Note that markets have fully retraced the the fall of 25th NOV. I said in a previous post that "inability to ... close above 8535 can lead to start of a bigger correction. First confirmation will be break of 8400 spot". So markets have closed above 8535 and confirms trend is still up.
Option writing (DEC) points to mixed clues. Support at 8500 and resistance at 8600-8700 levels... Difficult to arrive at a clear understanding where option writers see support and resistance this series.
Note that markets have fully retraced the the fall of 25th NOV. I said in a previous post that "inability to ... close above 8535 can lead to start of a bigger correction. First confirmation will be break of 8400 spot". So markets have closed above 8535 and confirms trend is still up.
Option writing (DEC) points to mixed clues. Support at 8500 and resistance at 8600-8700 levels... Difficult to arrive at a clear understanding where option writers see support and resistance this series.