Flirting with 8000 . . .

Hi All,

Markets are mingling around the psychological levels of 8000. Though the same was a very crucial resistance, it has now becoming weak as the Nifty touched it for more than 2-3 times, which indirectly means there are high chances that the level will be surpassed.

SGX Nifty was up by more than 20 points, however is very volatile and now trades down by 20 points.

The short term bias for the markets will be positive only if it sustains above 8000 levels till such time its wait and watch . . .

Levels to watch out for –

Supports – 7950-7930-7910-7850-7820

Resistances – 8000-8040-8120-8185-8230

Cheers