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.