Hi All,
Indian markets are likely to
open weak as on Fed decision where it stood pat on rates citing the Brexit risk
and after the recent weak US jobs data. Also SGX Nifty is trading lower by 31
points
Yesterday Nifty broke 8140
(Basing area high mentioned in the last post) and created a high of ~8210 and
closed above 8200.
The overall view on Nifty is
still bearish until it break and closes above 8300 - 8340 levels.
Areas to watch out :
Supports @ 8150 - 8100 - 8060
Resistance @ 8220 - 8260 - 8300
Bias remains Negative and sell
on rise will be strategy to be followed with proper evidence on charts.
Trade with Strict stoploss and
with Proper Money Management.
Regards,
Mayur S.
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