Nifty has shown great profit booking on back of aggressive selling by Fii"s.The fii data for 24 dec was something to worry about.A big 2900 crore sell figure in cash market.Looking at elliot waves it seems that the move up from 7960 to 8365 was a move A the prices henceforth has corrected 50% of the entire upmove.The 2900 cr sell seemed something as a capitulation and markets should move gigher close to 8400-8425.But a safer strategy would be buying above 8250 for riding the C wave
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