Hi All,
Markets are likely
to open on a Negative note tracking global markets, SGX Nifty is trading @
8083(-19.50 Points).
On Friday Nifty
closed 148 points high and Nifty managed to closed above 8100. After a series
on Negative closing Nifty finally gave a hope for bulls.
On weekly charts
Nifty gave a Hammer with Positive Candle Divergence which will triggered when
Nifty goes above 8120 – 8130 mark with resistance nearby 8200 – 8270 – 8300 and
supports nearby 7920 – 7900.
Areas to watch out
Supports @ 7920 – 7900
– 7850 - 7800
Resistance @ 8130 -
8200 - 8270
Bias will change to positive for Short term if Nifty breaks 8120 – 8130 and stay above it.
Regards,
Mayur Shah.
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