Markets are likely to open the first trading day of FY 2016-2017 on a negative note tracking global markets, as SGX Nifty is trading 37 points lower.
As Nifty is trading in overbought area since a week, we can expect some selling or profit booking at this levels.
Also on daily charts it has again given a Classic Divergence where the entry will be below 7600 - 7580 levels, and next supports will be at 7460 - 7400 levels and resistance can be seen at 7780 - 7800 levels.
Bias remains positive, and buying on dips will be advisable until Nifty holds 7600 - 7580 levels.
Trade with Strict Stoploss and with Proper Money Management.
Regards,
Mayur. S
Mayur. S
No comments:
Post a Comment