Bulls Bulls go away!!!

Indian markets to open on a Negative note tracking global markets, SGX Nifty is trading 7839 (-53 points)

As mentioned in the last update - Evening Star at daily resistance of 7970 - 8000 indicates the movement will be negative for short term.

Today's opening will be negative tracking SGX Nifty which is down by 53 points. Negative movement likely to continue till 7770 - 7720 levels as these are daily window (Gap up) which will act as supports.

Areas to watch out :
Supports @ 7790-7770-7720
Resistance @ 7860-7890-7940

Bias remains Negative with supports of 7790 - 7770 - 7720 and with reversal above 7970 - 8000 levels. Sell on rise will be the strategy to trade.

Trade with Strict Stoploss and with Proper Money Management.

Regards,
Mayur, S.