NIFTY SPOT : 7960.55
Hi,
Readers,
Since Nifty
has closed above 7945. Even high risk traders book complete profits and step
aside. And wait for next trade to come.
Now Nifty has
resistance at 8020 and then 8050. Support is at 7880 which is also the level of
gap which Nifty has made today.
Readers should
also keep watch of 7930 level again. Any close below 7930 again will be first
indicator that today’s short covering rally is not getting any follow through
and more downside may be possible. Time will tell.
From tomorrow we
are entering into result season also thus expect volatile moves.
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