Gap Support!!!

Markets are likely to open on a flat to positive note tracking global markets, SGX Nifty is trading @ 8568 (+13 Points).

Markets are trading in a range of 8480 - 8600 and a break below 8480 and above 8600 will decide the move.

On daily charts Nifty gave a candle divergence on 15 July candle which got triggered on 18 July and on 19 July it took support of daily upward gap of 8475 - 8479 levels and bounce till 8540.Nifty will be weak only when it closes below 8500 mark.

8600 - 8660 crucial resistance for Nifty where 8500 - 8480 will be crucial supports going ahead.

Areas to watch out :
Supports @ 8500 - 8470 - 8440 - 8400 - 8360 - 8330
Resistance @ 8600 - 8630 - 8670 - 8700

Bias will be stay cautious as Nifty is overbought on daily and weekly charts. Trade only when there is any proper evidence on charts.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Team ATC.