Hi All,
Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 8512 (+67 Points).
Markets broke all crucial levels last week 8500 - 8450 and touched 8400 on Friday and bounce sharply from 8400 and gave a close above 8430.
On hourly chart Classic Positive Divergence in occurred which will triggered when Nifty breaks 8470-8480 with resistance can be seen nearby 8550 - 8620 with supports nearby 8400 - 8350(Daily gap up support).
Areas to watch out
Supports @ 8400 – 8350 - 8280
Resistance @ 8550 – 8600 – 8630 - 8660
Supports @ 8400 – 8350 - 8280
Resistance @ 8550 – 8600 – 8630 - 8660
Bias will change to positive if Nifty breaks 8470-8480 for short term.
Trade with Strict stoploss and with Proper Money Management.
Regards,
Mayur Shah.
Mayur Shah.
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