Markets are likely to open on a flat to negative note tracking global markets, SGX Nifty is trading @ 8338 (+42 Points).
On Tuesday Nifty future closed @ 8352 and now its trading @ 8343 so we can expect a flat to negative opening on cards.
Nifty on hourly chart gave a Bearish RSI Classic Divergence and a break below 8320 - 8300 will open doors for bears.
Areas to watch out :
Supports @ 8320 - 8300 - 8260 - 8230
Resistance @ 8370 - 8400 - 8460 - 8500
Supports @ 8320 - 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,
Team ATC.
Team ATC.
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