• Deepak

Index levels & Views for 29 July

Nifty Spot at 11284

Resistance at 11310 / 11360

Support at 11230 / 11210 / 11111

BankNifty closed at 29325

Resistance at 29460 / 29710

Support at 29070, 28960

View: - On Daily Chart BankNifty looks stronger to Nifty optically. Nifty should look to catch-up on upside or should break the recent lows to lead on downside.

I am not expecting a followup on downside from Friday's low today, we will be looking for long trades when we are near to Friday low in Nifty & BankNifty should be stronger for this thesis to play out.

I will share a update If & when we get a signal to trade on Index, else we will be in wait and watch mode today, all depends on how market do after opening.

I will update on a change of view based on Market opening.

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