Indian markets to start the week on a strong note tracking global markets, SGX Nifty is trading @ 8224 (+53 points)
Post Basing breakout on daily chart (7900-7940) last week, Nifty rallied by almost 300 points. Looks like the journey will continue till 8250 - 8300 levels as there is no weakness in the momentum.
Areas to watch out :
Supports @ 8120 - 8060 - 8000
Resistance @ 8220 - 8250 - 8300
Bias will be wait and watch as Nifty is overbought on daily and hourly charts. Buy on dips with proper evidence on charts will be looked upon.
Trade with Strict stoploss and with Proper Money Management.
Regards,
Mayur S.
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