Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 8224 (+109 Points)
Yesterday Nifty opened marginally lower and then we saw a huge sell off which lead Nifty to touch 8100 and closed above 8100 levels.
On hourly charts Nifty showed some relief to bulls – Classic Positive Divergence which will triggered when Nifty breaks 8200 – 8230 levels with Next resistance can be seen nearby 8270 – 8350 – 8400. Since IV is near about 20% we can expect huge volatility in the near team.
Areas to watch out
Supports @ 8100 – 8070 - 8000
Resistance @ 8230 – 8270 – 8300 - 8350
Supports @ 8100 – 8070 - 8000
Resistance @ 8230 – 8270 – 8300 - 8350
Bias will change to Positive if Nifty sustains above 8200 – 8230 for short term.
Trade with Strict stoploss and with Proper Money Management.
Regards
Mayur Shah.
Mayur Shah.
Market Live: Sensex jumps 230 pts, Midcap up 1% on easing North Korea concerns.capitalstars
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