Nifty Daily Sentimental indications are positive before the FED meet and Bank Nifty continue to be negative and at highly oversold levels. However what worrying is the weekly sentiment in Nifty and Bank Nifty turned negative last week and so far this week continues to be negative. Only Nifty weekly price distributions above 7800 sounds positive in the long run and retail traders are confident of writing 7600CE for the current option series. Failing to close above 7800 on the weekly basis indicates more weakness in the medium term. It should be noted thatdownside gap reference level 7054 left unfilled for more than one and half years.