Hi All,
Though Nifty crossed the 7900 mark, it was
not comfortable above the levels and saw a selling pressure near it.
It has closed marginally above it, however
the closing of today will be very crucial for markets as it is also going be a
weekly close.
On weekly charts there will be a Supertrend
resistance 7908 and a close above that will negative the current pessimism and
Nifty can move up to the next pit stop near 8000....
Also, in the recent run up the volumes are
on the weaker side which suggest lack of momentum.
It would be advisable for traders to wait
and watch before taking any overnight trade this weekend.
Supports – 7840-7800-7750-7710-7670
Resistances –7925-7950-8000
Cheers - - -
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