Index levels & Views for 9 July

Nifty Spot at 11558

Resistance at 11630, 11695

Support at 11490, 11430

BankNifty closed at 30603

Resistance at 30830, 31070

Support at 30270 , 30130

View: - Nifty & BankNifty has sold off post budget announcement.

I will be looking to buy today post a intraday dip, i expect some announcement / clarification & a step being taken back from Govt today to clarify any doubts which are being highlighted in media related to FPI tax.

Selling now doesn't have a good risk reward. Will buy based on how market does in morning session and take a call. Not interested in selling today, if no entry found, than no trade today.

Key will be those stocks / sectors which doesn't fall much / below their recent swing lows, they are likely to cross recent highs.