Markets are likely to open on strong today tracking global markets, SGX Nifty is trading @ 8262 (55 Points)
Markets will remain volatile today because of FNO Expiry contract.
Nifty gave a strong closing above 8200 yesterday and looks like the Northward journey will continue till 8270 - 8290 which are the next resistance levels for Nifty.
Also in the last post we mentioned that Super Trend gave a Positive Signal where entry will triggered at 8146 - 8150 with next resistance @ 8200 - 8260. First target was accomplished yesterday and now looks like it will be trading near the second target. Long trades book profit and stay cautious today because of FNO Expiry.
Areas to watch out :
Supports @ 8200 - 8150 - 8120
Resistance @ 8260 - 8300 - 8340
Supports @ 8200 - 8150 - 8120
Resistance @ 8260 - 8300 - 8340
Bias is positive with Buy on dips will be advisable with proper evidence on charts.
Trade with Strict stoploss and with Proper Money Management.
Regards,
Mayur S.
Mayur S.
Oil and Natural Gas Corp (ONGC) has increased its first ever debt-raising plans by 40 per cent to as much as Rs 35,000 crore to fund its Rs 36,915 crore acquisition of Hindustan Petroleum (HPCL).
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