#Nifty
For 16-07-2020
Support for Nifty comes at 10562-10490-10447-10400
Resistance for Nifty comes at 10680-10725-10760-10805
BankNifty
Support for BankNifty comes at 21496-21334-21000
Resistance for BankNifty comes at 21860-22052-22300
Nifty yesterday i gave sell on rise at 10700 with SL of 10760. But in morning updated on Facebook wall short on bounce not at 10700. And it proved right. Then i attempted a short at 10780 but Booked loss of 20 points and moved out of shorts at 10800. But then came the big surprise and Nifty went all the way to 10577. So it was not a good day.
For tomorrow Nifty can be bought near to 10600-10620 with SL of 10550 for targets of 10700-10725.
Nifty will be fresh buy on daily close above 10750-10800 zone.
If Nifty breaks 10550 then 10500-10450-10400 is possible. But tomorrow short trade should be avoided.
BankNifty for the day final resistance was 21910 and it made a high of 21935. Banknifty was sell around 21600 with SL of 21800 but it reversed after hitting 21935. So failed trade.
For tomorrow Banknifty appears to be more strong. It can be bought in the range of 21600-21500 with SL of 21400 for target of 21800-22000. Banknifty will be fresh buy on daily close above 22300.
Banknifty will be weak below 21350.
Disclosure: I don't have any position in Nifty and BankNifty futures.
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