Index levels & Views for 20 June

Nifty Spot closed at 11691

Resistance at 11775, 11820

Support at 11675 , 11655

BankNifty closed at 30362

Resistance at 30605, 30680, 30740

Support at 30320

View: - Market saw a sell off post opening action Yesterday, we had a view of downside of Gap fill and markets extended that too. Today again there is a expected gap up open post US Fed rate policy announcement ( No Cut ), don't expect a break of yesterday's low. Data is also pointing to a exhaustion on downside even after yesterday's big down move. Today i will looking for trades on long side in Index, today is Weekly Options expiry as well, a second half ( Post 12:10 ) rally is expected and we will be looking for upside trades for that. More updates to follow thru the day.