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.