NIFTY SPOT LEVEL FOR 02/01/2017

Inline image 1

NIFTY CLOSED POSITIVE ON WEEKLY CHART LOOKING STRONG BUT STILL BEARISH ON MONTHLY BASIS.
 
 
MONTLY CHART SUGGEST WE ARE IN LONG TERM BULL MARKET OF MAJOR WAVE 3.
 
 
Inline image 2
 
WEEKLY CHART SUGGEST WE ARE IN C(B) WAVE.
 
Inline image 3
 
 
Inline image 4
 
RSI BREAKOUT FROM RANGE.
Inline image 5
 
MAY BE 1 TO 5 OVER OR 5 IN PROGRESS FROM 7895NS.
 
Inline image 6
 
NIFTY HOLDING 8160  CAN MOVE ABOVE 8197> 8210 TO 8265 LEVEL. BELOW 8150 WE CAN SEE RETRACEMENT OF 7895 TO 8197 NS. 38.2%, 50% & 61.8% COMES TO 8081-8046-8010NS.
 
HOLDING 8010 NS CAN SEE FURTHER MOVE TOWARDS 8300-8425 LEVEL .
 
BEARISH BELOW 8008 CAN SEE 7893 LEVEL.