Indecisive Candle @ Window!!!

Indian markets to open on positive note tracking global markets, SGX Nifty is trading @ 8211 (+16.5 points)

Nifty made a day high of 8200 but unable to cross the psychological level and closed @ 8178.

Momentum has kind of became weak on hourly charts supported by RSI Classic Negative Divergence, but weakness will be stronger if Nifty unable to sustain 8120 - 8100 levels.

Also on daily chart there is a small gap between 8209-8217 (27-28 Oct 2015) and near to this gap there is a Indecisive candle formed yesterday, a break above 8220 or below 8100 will decide the future move.

Areas to watch out :
Supports @ 8120 - 8060 - 8000
Resistance @ 8220 - 8250 - 8300

Bias will be wait and watch, key supports for bulls will be 8120 - 8100 and key resistance will 8200 - 8220.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.