Stay Cautious!!!

Nifty is likely to open on a flat note tracking global markets. SGX Nifty is trading 2 points higher.

Nifty yesterday broke crucial support of 7600 - 7580 and then we saw Nifty touching 7540 - 7530 mark.

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,
Mayur. S