Hammer ! ! !

Hi All,

As expected, Nifty did not break 7880-60 levels and continued the upward journey.

It’s now trading near a crucial resistance of 7980-8000......

However, after crossing the same, Nifty is likely to continue the current up move to higher levels of 8100-8220-8340-8360

On monthly charts Nifty made a strong bullish Hammer pattern, and the same will be confirmed only above 7980-8000 levels.

Supports on the lower side – 7930-7880-7830-7800-7730-7700

Resistances – 7980-8010-8115-8220-8340-8360

7980-8000 levels are very crucial for markets and Nifty needs to break that convincingly in order to continue the up move.

Cheers ! ! !