The markets are exhibiting a lot of volatility. Although this is a good opportunity for traders but using strict stops and caution is advised. A gap down open marked last day’s session and Nifty future posted the low of 7713.95 in the opening phase itself. There was a slow and steady recovery for the rest of the day that peaked out around 7889 and some profit booking was seen in the end of session. This resulted in Nifty future closing off the high of the day but closed to it and in the positive despite a weak opening. 7865-7875 is the immediate resistance which must be crossed decisively for the initial signal of strength.
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