#Nifty
For 22-07-2020
Support for Nifty comes at 11130-11080-11038
Resistance for Nifty comes at 11200-11244-11300
BankNifty
Support for BankNifty comes at 22654-22550-22380
Resistance for BankNifty comes at 22864-23000-23080
Nifty was buy at 11040 for targets of 11135 and it straight way opened at 11131. So no trade. Only thinking about imaginary profits. That is how market behaves when it moves in one side.
For tomorrow if there is any dip to 11100-11075 then only i will buy with a SL of 11000 for target of 11200-11240. I will not chase any break out. As market looks bit overbought to me. Any time we can see 200-300 points down move.
Nifty my positional target was 11200 and today we got 11179. Now 11200-11244 is congestion zone. Above 11244 Nifty will try to attempt 11350-11400.
BankNifty achieved its first target of 22800 but again no trade.
For tomorrow Banknifty has congestion zone of 22865-23080. So any gap up has a good chance of being sold off. Banknifty if shows profit booking around 23000 then 22800-22700-22600 is possible intraday.
Banknifty for tomorrow my last resistance is only 250 points up because above 23080 it will fly like rocket and can easily go 23400-23500. So buy above 23100.
Disclosure: I don't have any position in Nifty and BankNifty futures.
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