Index levels & Views for 4 July

Nifty Spot closed at 11916

Resistance at 11960, 11995

Support at 11890 , 11840

BankNifty closed at 31382

Resistance at 31490, 31670

Support at 31250 , 31080

View: - Eco survey to be tabled today in Parliament.

Nifty and BankNifty both are at the higher end of the recent range, data is also not bearish. Event ahead on Friday, we can expect nervous shorts to book out before the event. Going in market with this view for today, although we will be looking at the intraday charts post open to make a strong view of the market direction.

I will update if there is a change in view.