#Nifty
For 28-07-2020
Support for Nifty comes at 11087-11040-10950
Resistance for Nifty comes at 11185-11240-11300
BankNifty
Support for BankNifty comes at 21800-21500-21330
Resistance for BankNifty comes at 22000-22160-22350-22600
Nifty was sell below 11150 for target of 11100-11060 and we got 11087. Nifty for the day second support was 11090 and it made a low of 11087.85. Power of technicals.
Fourth day in a row Nifty becoming choppy in a 200 points range. Now it is high time it should break on one side. I am expecting break out above 11250 and move to 11350-11389 in next 4 trading sessions of this week.
For tomorrow i will like to buy around 11100 for target of 11200-11225 with a SL of 11040. Below 11040 Nifty can slide to 10980-10950-10910. But for tomorrow shorts are avoid.
BankNifty i was expecting move to 23000 and it went below 22000. My failure. Banknifty was buy around 22500 with SL of 22300 so SL triggered in this trade.
For tomorrow i will again look to take a long trade near 21800 with a SL of 21500 for targets of 22000-22300. No short trade tomorrow.
Disclosure: I don't have any position in Nifty and BankNifty futures.
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