Indian markets to open on a flat note today tracking global markets, SGX Nifty is trading @ 7784 (3 points)
Yesterday market tanked by 80+ points, went below 7800 levels and closed above 7770 mark which is lower end of the basing area (7950 - 7770).
Now its trading at the lower end of the basing area, Buy with proper evidence on charts will be advisable until an unless it doesn't close below 7770 mark.
Nifty is trading sideways from 5-6 trading session, so a break above 7900 - 79400 or below 7780 - 7770 will decide the future move.
Areas to watch out :
Supports @ 7770 - 7750 - 770
Resistance @ 7800 - 7840 - 7880
Bias remains wait and watch.
Trade with Strict stoploss and with Proper Money Management.
Regards,
Mayur, S.
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