This week will be very important for the indexes as tomorrow the RBI will start its three-day meet which will end on August 6th . This will end up making the picture look murkier. The indexes are at a critical point. However, the Bank Nifty is looking in a worse state than the Nifty . Coming to the Nifty , the index is holding its rising window support. I will maintain the same supports as earlier, which is 10,963 and 10,874. If this position goes against me slightly I will exit as the risk is high.
Nifty support at the crucial support level of 11085 -the index reversed from its new resistance created at 11300 -yesterday expiry shook out a lot of week hands in the market -today we see the actual trend -we need to see if the market fails to hold on to support or moves on and resumes uptrend -the market will find it tough to cross above 11240 again -on the downside, the market must not break below 11015 otherwise nifty might revers
NIFTY RESISTANCE FOR THE DAY 11158 -11240-11340 NIFTY SUPPORT FOR THE DAY 10964-11015-11085
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