Index levels & Views for 3 July

Nifty Spot closed at 11910

Resistance at 11960, 11995

Support at 11890 , 11840

BankNifty closed at 31283

Resistance at 31490, 31670

Support at 31145, 31080

View: - Budget week starts from today. Event date - 5th July, Eco survey - 4th July.

Yesterday Nifty was relatively stronger as compared with BN. In all major up moves BN is usually the stronger one, today BN needs to do some catch up.

Budget is on Friday and before event market will like to go light into event / not go down. Yesterday price action also suggested that Market pulled from support zone.

I will update if there is a change in view.