#Nifty
For 23-07-2020
Support for Nifty comes at 11100-11056-11000
Resistance for Nifty comes at 11200-11244-11300
BankNifty
Support for BankNifty comes at 22780-22664-22500
Resistance for BankNifty comes at 23080-23208-23400
Nifty view was right do not chase break out. We waited for dip to 11000 to enter and booked 50 points in intraday. I am still holding Nifty futures one lot bought at 11000. Nifty for the day second resistance was 11244 and it made a high of 11238. Power of technicals.
For tomorrow any move to 11180-11244 i will book my position. For tomorrow 11200-11244 will act as resistance. Only 15 minutes candle above 11250 Nifty can move to 11300-11400. But again do not chase break out and wait for dips to 11100 for fresh buy. Stop loss for all long trades is 11000.
BankNifty as expected gap up sold immediately. For the day first support of Banknifty was 22654 and it made a low of 22664. Power of technicals.
For tomorrow any dip in Banknifty to 22800-22700 should be bought with SL of 22600 for intraday target of 23000 and positional target of 23400. Banknifty now should be sold only daily close below 22500.
Disclosure: I hold long in Nifty futures.
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