8300 - 8340!!!

Hi All,

Indian markets to open flat today tracking global markets, SGX Nifty is trading @ 8291 (+1 point)

Yesterday Nifty broke 8260 and almost was near to 8300 but after 2 PM half of the gains were taken out and Nifty closed @ 8263 mark.

Markets are trading at daily resistance of 8300 - 8340, buying right now will not be advisable. We have to wait and watch for proper evidence on charts to enter into the trade.

Areas to watch out :

Supports @ 8250 - 8200 - 8170 - 8130

Resistance @ 8300 - 8340 - 8370 - 8430

Bias will be buy on dips with proper evidence on charts.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.