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.