Hi All,
Markets are likely to open on a
Negative note tracking global markets, SGX Nifty is trading @ 8703 (-20
Points)
On Hourly charts Nifty is now
trading in an oversold area and trading at a basing area support of 8750 – 8680,
Also there is a Classic Positive Divergence on hourly charts which will trigger
when Nifty breaks 8760-8780 levels with Supports nearby 8680 – 8640.
Areas to watch out
Supports @ 8680 – 8640 -
8600
Resistance @ 8780 – 8810 -
8830
Bias will change to Positive if
Nifty breaks 8760 – 8780 levels.
Trade with Strict stoploss and
with Proper Money Management.
Regards,
Mayur Shah.
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