Hi All,
Markets are likely to open on a Flat to Negative note, tracking global markets, SGX Nifty is trading @ 8798 (-7 Points)
As mentioned in the last Update about Symmetrical Continuation Triangle formation on Daily chart which got a Breakout Yesterday when Nifty broke 8660 – 8700 levels.
The up move likely to continue till 8800 – 8850 levels until we see any reversal signal.
Areas to watch out
Supports @ 8700 – 8660 - 8620
Resistance @ 8760 – 8800 - 8840
Bias for Nifty remains positive with 8800 – 8840 targets in coming days, Buy on dips will be advisable.
Trade with Strict stoploss and with Proper Money Management.
Regards,
Mayur S.
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