#Nifty
For 30-07-2020
Support for Nifty comes at 11149-11087-11050
Resistance for Nifty comes at 11250-11308-11341
BankNifty
Support for BankNifty comes at 21906-21800-21600
Resistance for BankNifty comes at 22180-22346-22500
Nifty was buy on dips to 11250 for target of 11300-11320. And morning first dip to 11244 gave us the target of 11308. But second attempt to buy resulted in stop loss. Nifty for the day final support was 11140 and it made a low of 11149. Power of technicals.
For tomorrow till Nifty holding 11150 it is good but below 11150 it can slide to 11090-11050. Nifty break out appears to be failed so we are back in the range of 11050-11250. Tomorrow i will avoid trade in Nifty.
BankNifty was buy around 22000 and from morning dip of 22032 it went all the way to meet my first target of 22300. Despite being closed in the red it barely touched the first support for the day. This shows the inner strength of Banknifty.
For tomorrow i will again look to buy around 22000-21900 with a SL of 21800 for target of 22300. Till 21600 holding on closing basis there is a chance of 23000 by Friday or Monday.
Disclosure: I don't have any position in Nifty and BankNifty futures.
Comments
Post a Comment