Classic Positive Divergence!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8052 (-25 Points).

Nifty was trading flat throughout the day but in last one hour Nifty went below 8060 gave a low of 8053 and closed above 8061.

Nifty is trading @ daily support area of 8085 – 8050, on hourly charts it has given a Positive Classic Divergence which will trigger when Nifty breaks 8110 – 8120 levels with next resistance will be around 8200 – 8230 and supports @ 8050 – 8030.

Areas to watch out

Supports @ 8050 – 8030 - 8000

Resistance @ 8110 - 8135 - 8160 - 8230 - 8250 - 8280

Bias will change to positive if Nifty sustains above 8110 – 8140 levels.

Regards,

Mayur Shah.

Volatility to continue!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8096 (-17 Points).

Nifty touched 8250 last week but dint sustain above it and gave a weekly closing @ 8086. On weekly chart after a Hammer there a Huge selling pressure candle which occurred last week.

Going ahead If Nifty has to move up then it has to close above 8250 - 8300 levels else markets will not sustain at higher levels.

The Indian market is likely to be cautious as global markets start the week on a cautious note post Italian vote referendum.

Markets are likely to be volatile this month as RBI Quarterly monetary policy is on 7th December and then FED meeting.

Areas to watch out

Supports @ 8050 – 8000 – 7950 - 7920

Resistance @ 8160 - 8200 - 8250 – 8300 – 8320 - 8400

Bias will be wait and watch for proper indication on charts.

Regards,

Mayur Shah.