Index levels & Views for 1 July
Nifty Spot closed at 11788
Resistance at 11855, 11890
Support at 11775 , 11735
BankNifty closed at 31105
Resistance at 31300, 31425
Support at 31910, 30800
View: - Budget week starts from today. Event date - 5th July, Eco survey - 4th July
Some celebration in world market post the G20 meet over weekend. Gap up around the world but there is no followup moves for now in those markets.
Expectations from Indian Market - Not expecting much fall in our markets pre event, we are likely to hold on to these higher levels. A retest of Friday & Thursday high is on cards before event. So in short on Index, we won't be looking for sell trades before the event.
For a change in view - I will be updating thru the day.