Nifty have had two major break out today on all time frame of chart as market ended above 8000 mark after almost 6 months. Firstly it has given a range break out of 100 points and extending the same by 150 odd points. this confirms nifty is heading towards 8300 as price pattern suggest expanding zone and we are about to see new highs. secondly on the daily chart we have seen breakout of inverted head and shoulder and we may see one sided movement as current rally is dominated by bulls. The strong support formation is based now at 8000- 7950 where we are seeing Max pain based on OI data and further roll over statistics are also encouraging.

For next leg of rally resistance comes at 8210 – 8300 while support is at 7950. A dip in current momentum should be used as an opportunity to enter for a positional gains