Nifty On Monthly Charts : Caution ahead for bulls

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Nifty on Monthly charts is nearing a very important trend line which joins tops of Jan-2008 (6357 and after that we went all the way to 2252) and March-2015 ( 9119 and after that we went all the way to 6825).  

I am not saying Nifty will not cross that trend line, after all trend lines are meant to be broken some time. But i am not expecting this trend line to break on upside in July-2017 Expiry.
On  Options side also July-2017 Nifty has highest OI in 10000 CE so i am not expecting expiry above 10000.
Please take some protective measures if Nifty respects this trend line this time also.













Disclosure: I am not a SEBI certified analyst so take tour own call before acting on this call. Further i do not have any position in Nifty futures, however i have some Put Options to hedge my portfolio.

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