Markets are likely to open on a strong note, as SGX Nifty is trading 60 points higher.
Areas to watch out :
Supports @ 7480 - 7440 - 7400
Resistance @ 7580 - 7610 - 7640 - 7680
Nifty is trading in range of 7600 - 7400 levels. A break above or below these levels will decide the further levels.
On daily charts Nifty gave bearish signal - RSI Classic Divergence at resistance of 7580 - 7610 levels, But it will be only ruled out when nifty breaks the supports of 7420 - 7400 levels.
Bias is still positive with supports at 7440 - 7400 levels and resistance @ 7550 - 7610 levels.
Will update view as markets progress and give proper trade based on the charts.
Regards,
Mayur. S
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