Indian markets are likely to open Negative today on the news on Reserve Bank of India Governor Raghuram Rajan has no intention to serve second term, while global markets are trading positive worries of Brexit easing a bit. SGX Nifty is trading @ 8099 (-57 Points)
On Friday we saw Nifty taking resistance of Super Trend on hourly charts and we recommended to short Nifty near 8150-8160 levels. As per SGX if Nifty opens down by 50-60 points then our 1st Target i.e., 8100.
We have to wait and watch today as Global markets are positive and the worries of Brexit easing a bit. The Britons will vote to decide if the UK should leave or stay within the 28-member EU trade bloc on June 28.
Areas to watch out :
Supports @ 8100 - 8060 - 8000
Resistance @ 8200 - 8220 - 8260 - 8300
Supports @ 8100 - 8060 - 8000
Resistance @ 8200 - 8220 - 8260 - 8300
Bias will be wait and watch, and book profits in short positions if Nifty opens near 8100 - 8090 levels.
Trade with Strict stoploss and with Proper Money Management.
Regards,
Mayur S.
Mayur S.
No comments:
Post a Comment