Rise in volatility!!!

Indian markets are likely to open on a flat to Negative note today tracking global markets, SGX Nifty is trading @ 8115 (-13.5 points)

Yesterday Nifty tanked by more than 100 points and started recovering in second half, recovered almost by 50 points and closed above 8100 mark. Also India Vix was up by ~4% suggesting huge swings in coming days. 

Markets are likely to remain volatile because of two-day US Fed meeting that begins today.

A close below 8100 will open door for 8000 - 7950 levels in short term.

Areas to watch out :
Supports @ 8060 - 7990 - 7950
Resistance @ 8130 - 8170 - 8200

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.