Index levels & Views for 31 July

Nifty Spot at 11185

Resistance at 11160 / 11222

Support at 11000 / 10950

BankNifty closed at 28791

Resistance at 29850 / 29940

Support at 28525, 28440, 28250

View: - Bearish for lower levels, for this downtrend to end, we will need a failure at lows.

When i see one, i will update about it till then its a sell on rise market.

Plan to is wait now for a failure at lows and take the long trade, which has better risk reward. Update time will be same around 12-12:15 for 2nd half trades.

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