Bulls attacking!!!

Indian markets to open flat to negative note tracking global markets, SGX Nifty is trading @ 7868 (-4 points)

After a gap down opening by almost 90 points, Yesterday Nifty created a low 7780 and in the first hour itself it was managed to move up till 7850-7860 levels that time it was down by 10-15 points.

Nifty took support at hourly super trend as posted yesterday, So going ahead 7780 - 7770 key supports for Nifty. However it was not able to cross 7900 mark and again came down to 7830 - 7815 levels took support of Super Trend again and then bounce back to 7850.

Areas to watch out :
Supports @ 7810 - 7770 - 7700
Resistance @ 7900 - 7950 - 8000

Bias remain positive. Buy on dips will be advisable, with Stoploss below 7780 and Targets as 7900 - 7960 - 8000.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur, S.