Indian markets to open on a Negative note tracking global markets, SGX Nifty is trading 7880 (-29 points)
As said in the last post that Nifty is trading @ daily resistance area of 7970 - 8000 and on hourly charts we saw RSI Classic Divergence, Markets tumbled by more than 130 points yesterday and close @ 7847 mark.
Evening star (Bearish Candle-Stick Pattern) on daily charts which indicates the downside is more. A break below 7820 - 7800 levels will confirm the same.
Areas to watch out :
Supports @ 7800-7770-7720
Resistance @ 7860-7890-7940
Supports @ 7800-7770-7720
Resistance @ 7860-7890-7940
Bias remains Negative with crucial supports of 7820 - 7800 and with reversal above 7970 - 8000 levels.
Trade with Strict Stoploss and with Proper Money Management.
Regards,
Mayur. S
Mayur. S
ONGC (-2.26%), Dr Reddy (-2.12%), Infratel (-2.10%), Bosch (-1.74%) and GAIL (-1.68%) were the top losers in today’s trade.
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