According to Way2Wealth, markets are expected to open on negative note and will continue to see profit booking pressure at higher levels.
Last week, indices opened on flat note but from higher levels profit booking was seen that dragged nifty below 7950 levels. However, from lower levels sharp short covering was seen in Thursday's session that helped nifty to wipe off all the losses and finally nifty closed on flat note on weekly basis.
This week, markets are expected to open on negative note and will continue to see profit booking pressure at higher levels. Overall, markets are stuck in broad range of 7950-8200 levels and any breakout from this range will further set the direction in short to medium term perspective.
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