Indian markets to open on a flat note today tracking global markets, SGX Nifty is trading @ 7730 (-6 points)
Yesterday Nifty opened positive and went above 7800 but unable to sustain the area and came down to 7730 levels.
On Hourly charts it has shown some kind of relief for BULLS Classic RSI Positive Divergence but the entry will trigger only when Nifty breaks 7810 - 7820 levels and sustain above these levels.
Markets are likely to remain volatile because of Expiry which is on 26-May-2016.
Areas to watch out :
Supports @ 7730 - 7700 - 7670
Resistance @ 7820 - 7880 - 7940
Bias will change to positive if Nifty manages to stay above 7800 - 7820 levels, till then Bias remains Negative.
Trade with Strict stoploss and with Proper Money Management.
Regards,
Mayur S.
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