Nifty chart update

• First chart shows daily line chart. There has been 7 attempts to close above 7960 - 8000 levels from September 2015 and only once bulls were able to close above this zone. Price is moving towards this resistance zone after breaking above the falling resistance line shown in weekly chart. So if  bulls are able to do multiple attempts to cross this zone they are likely to be successful. There could be correction as well towards the recent swing lows but as of now the structure in daily is bullish. Bigger weakness only if price breaks below 7700 levels again.
• S&P 500 BEARISH UPPER SHADOWS OF MONTHLY CANDLES

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