Ray of hope!!!

Nifty is likely to open on a flat to positive note tracking global markets. SGX Nifty is trading 8 points higher.

On Friday Nifty was trading in a range of 7535-7570 levels and today is seems like it will open in this range as SGX Nifty is trading 8 points higher.

Ray of hope for bulls : Today we might saw a upward movement, As SGX Nifty was down by 35+ points and then it recovered a bit and now its trading 8 points positive. Important level for Nifty 7570 on higher side and 7520 on lower side.

Now its trading at daily basing area support and the range is 7550 - 7400. Also on hourly charts we saw Nifty losing its strength on downside (RSI Classic Positive Divergence) and if it breaks 7600-7610 levels then we may see Nifty moving up till 7650 - 7700 levels.

Bias will be stay cautious for both Bulls and Bears. Trade with strict Stoploss.

Regards,
Team ATC.