Retracement!!!

Indian markets to open Negative tracking global markets, SGX Nifty is trading @ 7722 (-41 points)

Nifty is likely to open near the daily support of 7670 - 7700, A buy in this range with proper evidence on charts will be looked on. However, bearishness is likely to continue as Nifty took resistance of Super Trend on Weekly charts going ahead 7600 - 7500 can be seen on cards.

Areas to watch out :
Supports @ 7700-7670-7590
Resistance @ 7740-7780-7860-7890-7940

Bias remains negative and sell on rise will be the strategy to be trade on.

Trade with Strict Stoploss and with Proper Money Management.

Regards,
Mayur, S.