Positive!!!

Indian markets are likely to open on a positive note.

On Monday Nifty future closed @ 7918, yesterday SGX Nifty was trading near to 8000 mark up by more then 70 points and today its trading @ 7970, So we can expect a gap up opening on Index by 40-50 points.

As said in the last update that Nifty is creating Higher Highs and Higher Bottom on daily charts which indicates that the trend is up and we may see 7950 - 8000 levels in short term.

Today its likely to open near the resistance area, so will wait and watch for Markets to give proper signal for taking trades.

Areas to watch out :
Supports @ 7870-7820-7770-7700
Resistance @ 7950-8000-8040-8080

Bias remains positive with buying on dips strategy should be followed.

Trade with Strict Stoploss and with Proper Money Management.

Regards,
Mayur. S