NIFTY however BULLISH it may seem so far, there is a KEY DYNAMIC RESISTANCE approaching .. This dynamic resistance has been the Pivot for the FII's to initiate large SELL orders which in turn creates the SELL Impulses .. So far in the past 6 months NIFTY has been creating a LOWER HIGH & LOWER LOW structure and in the larger timeframe it is still in a BEARISH territory .. There is still a Technical Possibility of a 3rd SELL Impulse to develop from the dynamic resistance zone .. So if the Selling has to take place for a 3rd time, it has to take place from this zone .. However, if the FII's turn BULLISH then NIFTY will take out the dynamic zone, It will also take out the 78.6% Fibonacci Level and from there on it will enter the BULL's territory and a HIGHER HIGH HIGHER LOW structure will begin to form .. The 18000 level on NIFTY will be the next key level. BULLISH on NIFTY but with some caution.