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.