Nifty Analysis: Abhishek Mittal

Nifty has managed a strong recovery in the last two weeks.
But elliot waves do not yet signal a confirm North move. Look at the charts above. As stated earlier 8320-8350 may act as strong resistance area. And only a move above those levels would signal a confirm upmove. One should definately book profits in long positions now and look to re enter only if Nifty manages to get past 8350. Aggressive traders may look to short on rise with the same stoploss.