Index levels & Views for 18 June
Nifty Spot closed at 11672
Resistance at 11715, 11750
Support at 11640, 11615
BankNifty Spot closed at 30273
Resistance at 30450, 30540
Support at 30120, 29915
View: - Yesterday's trade panned out as expected, a move on downside and every rise was sold into. Expectations for today are of a ranged day, i.e we should not get a followup of any breakout. A downside move should not get a followup on downside and upside move won't get a followup move on upside. Trade is to fade the breakout on either side.
If i see today as another trend day, i will share a updated view accordingly.