RSI Divergence @ Resistance!!!

Hi All,

Markets are likely to open on a flat to Negative note, tracking global markets, SGX Nifty is trading @ 8672 (-11 Points),

On daily charts Nifty gave a Classic Negative Divergence which will triggered when Nifty breaks 8600 - 8590 levels with Supports nearby 8540 - 8470 and resistance near by 8700 - 8730

However, Markets are trading in a range of 8730 - 8470 and a break below 8470 and above 8730 will decide the future move.

Areas to watch out
Supports @ 8600 - 8540 - 8500 - 8470
Resistance @ 8730 - 8760 - 8800

Bias will change to Negative when Nifty breaks 8600 – 8590 levels  and watch for proper signal on charts and Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.