+ve Classic Divergence!!!

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.