Trade Plan for 26th Dec
Demark Trendlines:
Negative reversal in RSI which happened on 1st Dec has target of 7629.
If spot nifty opens above 8098 then its a valid breakout with target of 8667.
Buying pressure is above 8029 and then if it breaks above 8098 its still a valid breakout with target of 8667.
RSI is still falling down indicating down trend to continue and broken 40 level
ADX has taken support near 25 level and is rising now, however -dmi has crossed ADX which indicates pause in downtrend.
So plan for today will be to trade from both side and scalp instead of going for swing.
SUPPORT: 7976, 7965, 7880
RESISTANCE: 8000, 8077,8093, 8112, 8138, 8150, 8181, 8192, 8205, 8221, 8237, 8253, 8282