Hi All,
Nifty respected the levels of 7700 in the
morning trades yesterday however surpassed the levels in the second half and
closed above the resistance area.
Which means Nifty will now head towards the
penultimate levels of 7740-7780-7800-7840, bulls are advised to stay cautious
near these levels are as they are daily resistance areas. Above 7800-7840, possibly
Nifty can rally towards 7970-8000 levels.
We will initiate a trade provided there is
an evidence on the intraday charts.
Levels to watch out for –
Supports – 7690-7660-7600-7570-7500
Resistances - 7740-7780-7800-7840
Cheers
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