#Nifty
For 15-07-2020
Support for Nifty comes at 10562-10500-10470
Resistance for Nifty comes at 10670-10710-10765
BankNifty
Support for BankNifty comes at 21222-21026-20928
Resistance for BankNifty comes at 21457-21620-21910
Nifty was sell around 10850 but we didn't get chance. On down side i was expecting 10700 to hold but it went all the way to 10562. So my idea to avoid trade was good.
For tomorrow 10560-10470 is strong support zone. If Nifty manages to hold this support then a pull back to 10700-10750 is possible. So Nifty can be bought near 10560-10520 with a SL of 10470. Today heavy shorts have been added by FIIs. These shorts will be in trouble only above 10750. So if Nifty opens around 10700 it can be sold with SL of 10760. Preferred trade for tomorrow is sell at 10700 or buy at 10560.
BankNifty analysis also failed as i was expecting 22000 to hold. Again idea to avoid trade proved good.
For tomorrow 21200-21000 is good support to bounce to 21500. Banknifty can be sold around 21600 with SL of 21800 for target of 21300-21100. BankNifty fresh buy only close above 22000.
Disclosure: I don't have any position in Nifty and BankNifty futures.
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