Nifty In between Range : Wait on Sidelines

Nifty Remain on Sideline :

Buy Above : 8350 ( Closing Basis )
Sell Below : 8000 ( Closing Basis )

View : Above 8000 - Nifty is safe and could rally above life time high in coming months !!
But a break below 8000 might take Nifty to approx 7400 or below !!
INR - Trading above breakout & FII's Not buying - compounds this problem !!