Hi All,
Markets are likely to open on a flat to positive note tracking
global markets, SGX Nifty is trading @ 8647 (10 Points).
Nifty finally gave a upside breakout and close convincingly
above 8600. Going ahead 8600 - 8470 will be support area for Nifty.
The upward journey is likely to continue till next area of
resistance which can be seen near 8630 - 8660 and a decisive break above 8660
will lead Nifty towards 8780 - 8850 levels in coming days.
Buys on dips with proper evidence on charts will be advisable.
Areas to watch out :
Supports @ 8600 - 8570 - 8520 - 8470
Resistance @ 8670 - 8700 - 8780
Trade with Strict stoploss and with Proper Money Management.
Regards,
Mayur S.
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