Index levels & Views for 23 July
Nifty Spot at 11346
Resistance at 11390 / 11410
Support at 11310, 11255
BankNifty closed at 29284
Resistance at 29460, 29700
Support at 29190 , 28980
View: - Two days of big down moves in Index, i am not expecting either a bigger rebound nor a followup on downside today. Market needs to consolidate for couple of days now before resuming the downside again, expectations are Nifty can head to 11100 over next few days. Today there is an assumption that we may have a narrow range day with no followup on either side of breakout.
Nifty can test yesterday's high today.
I will update on a change of view based on Market opening.