Next station BEARS!!!

Indian markets to open on a flat to positive note tracking global markets,

Yesterday we saw Nifty crossed 7950 levels and created a High of 7978 but was finding difficult to sustain above 7950 and close @ 7912.

On daily charts Nifty gave a Candle Negative RSI Divergence which indicates there might be a stop for upside movement and if Nifty break 7880 and close below 7870 we can see Nifty near to 7850 - 7800 - 7700 levels in coming days with resistance near to 7980 - 8000 levels.

All bulls can book partial profits in their long trades and keep trailing stop-losses for your trades. Trailing stoploss for Nifty (For Long positions) will be around 7880 - 7870 levels.

Areas to watch out :
Supports @ 7870-7820-7770-7700
Resistance @ 7980-8000-8040-8080

Bias will change to negative for short term if Nifty closes below 7870 with reversal above 7880 - 7900 mark.

Trade with Strict Stoploss and with Proper Money Management.

Regards,
Mayur, S.