NIFTY Future continues to respect the resistance of 7850. Only a clear of it can lead to test the zones of 7950-8000. else it will prove a nice contrarian opportunity depending on the day set up and trades. On the downside 7820-7790 is a support and supply zone , a breach of that can lead to a resumption of the downtrend again.
Comment:
NIFTY Futures Two sessions ago we discussed that it was a in decisisive candle and a break above can lead to a test of 7850. That continues to be the achilles heel for nifty. we need a confirmed move above 7850 to test the levels of 8000-8050. on the downside breakdown of 7820-7800 zones can provide a low risk contrarian trade opportunity for the traders.
