Bears are ignored!!!

Indian markets to open on Positive note tracking global markets, SGX Nifty is trading @ 8266 (32 points)

After few bearish candles on daily charts, Bulls refuse those bearish patterns and manage to surpass 8200 level and closed above it.

As mentioned earlier also that 8130 - 8100 key supports for Nifty and key resistance will be near by 8250 - 8300 levels.

Nifty is trading in overbought zone on daily and hourly charts so going long will not be preferable now, Buy on dips will be the strategy to looked up on and with proper evidence on charts.

Areas to watch out :
Supports @ 8200 - 8130 - 8130 - 8060 - 8000
Resistance @ 8250 - 8300 - 8340

Bias remains positive with Buy on dips will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.