Negativity to continue!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8632 (-27 Points).

Market opened positive yesterday but it gave all the gains in the second half and closed @ 8622.

View remains same as posted yesterday (2-Aug-2016), Break below 8590 - 8570 will open doors for Bears with supports near by 8500 - 8470.

Areas to watch out :

Supports @ 8590 - 8570 - 8500 - 8470

Resistance @ 8670 - 8720 - 8770 - 8800

Bias will change to Negative if Nifty breaks 8590 - 8570.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.