Bulls snatch Bears!!!

Indian markets are likely to open on a flat note today tracking global markets, SGX Nifty is trading @ 8243 (1 Point)

After taking support near to 8100 levels Nifty yesterday bounce and managed to close above 8200 levels mainly because of upbeat monsoon covering half of India and worries of Brexit easing a bit.

On hourly Chart Nifty gave a Trend Change signal which indicating Nifty will move till 8260 - 8300. Buying on dips will be advisable as RISK : REWARD ratio is not proper at current levels with supports near 8100 - 8060 levels.

Areas to watch out :
Supports @ 8200 - 8170 - 8100
Resistance @ 8260 - 8300 - 8340

Bias remains positive until Nifty trades above 8060 - 8100 levels. Buy on dips with proper evidence on charts will be preferable.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.