An Evening Star @ 8 Hajaar (8000) . . . . .

Good Morning All,

Though 8000 was a used resistance, it was strong enough to make market fall by almost 150 points due to its selling pressure.

As mentioned yesterday the bias would have changed to positive only above 8000 mark, which didn’t happen.

On the lower side now 7820-7800 hold the key for bulls, if the level is broken the short term bias might change to negative for neutral.

Nifty has also created a pattern similar to Evening Star Pattern on daily charts which will get confirmed only below 7820-7800 mark. 

Read more on Evening Star Pattern

We will initiate a trade after a favourable price action on charts

Levels to watch out for –

Supports – 7820-7800-7770-7740-7710

Resistances – 7860-7890-7920-7950-7980-8000

Cheers