Hi All,
Yet another positive opening....
Hi All, thanks to global cues, SGX Nifty is
already up by around 30-35 points hence markets are going to open positive,
however the opening will be near the resistance zone of 7500-7525 and crossing
that areas remains a crucial task for bulls.
After 3 consecutive gap up openings and a
movement of close to 10% from the Budget day bottom, it is surely expected that
markets should pause a bit for a further healthy up run.
Levels to watch out for intraday will be
Resistances – 7500-7525-7585-7610-7650
Supports – 7440-7390-7335-7295-7215
Traders, especially Long traders are advised
to trade cautiously as the Nifty likely to be opening near the daily resistance
zone and a reaction from that level by bears cannot be ruled out.
Risky traders can Short Nifty near 7485-90
SL above 7520 (spot Levels)
Cheers
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