Negative close!!!

Markets are likely to open on a weak note tracking global markets, SGX Nifty is trading @ 8365 (-27 Points)

After 6 consecutive positive close, Nifty gave Negative close yesterday and today's opening looks like it will be weak opening.

Negative candle on daily charts & Negative Candle Divergence on hourly chart suggesting that there might be halt at up move and we can expect Nifty to come down till 8330 - 8300 with resistance near by 8370 - 8400.

Areas to watch out :
Supports @ 8350 - 8300 - 8260 - 8230
Resistance @ 8370 - 8400 - 8460 - 8500

Bias will change to Negative if Nifty closes below 8320 - 8300 levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.