MARKET Outlook

After a boring JULY INDEX TRADERS would start the month of August with lack of clarity and plenty of doubts. But that wont be an issue for you if you understand the Price Pattern and Time Cycle. Several times in past I had a view to buy dipps. And in several occations we bought dipps and made decent profits. Going ahead need to keep the same approach. Until and unless 15400 is protected on downside. So no need to over complicate things while analyzing. Just keep it simple. This market still could break barriers on upside but what’s lacking since last 7 weeks is the TREND. Just because the setup is strong NIFTY has held on these levels. This week Thursday would be an Important Vibration date. Lastly just an observation do keep a close watch on US 10Y yield that really could spoil the party. Nothing alarming yet but need to monitor closely. OIL and BASE METALS also have very strong setups. Take a note on it as well.