Nifty managed to claw back from the low of 19561 to close at 19646. with global markets in green and also Gift Nifty @ 19790, we could see NIfty opening above 19700. With Most of the contracts rolled over, we could see Nifty playing the range bound manner during 1st half and then some action happening in the 2nd.
The likely range of nifty will be 19800-19600 with the bias still downwards till we get a closure above 19823 and Aug futures gores above 19830.
my trades outlook: on gap up open, wait for retest at 19700. if the level is broken, could see a gap filling till 19650-630. if the index moves up from gapup opening, could buy above 19730 for levels of 19750/790-800/823/874
support levels are 19650-630/600/560/500
resistance levels are 19700/750/790/823/874
Note: I am not SEBI registered RA. Thise are my personal views and not an invite to trade. PLease use your own due diligence before investing
The likely range of nifty will be 19800-19600 with the bias still downwards till we get a closure above 19823 and Aug futures gores above 19830.
my trades outlook: on gap up open, wait for retest at 19700. if the level is broken, could see a gap filling till 19650-630. if the index moves up from gapup opening, could buy above 19730 for levels of 19750/790-800/823/874
support levels are 19650-630/600/560/500
resistance levels are 19700/750/790/823/874
Note: I am not SEBI registered RA. Thise are my personal views and not an invite to trade. PLease use your own due diligence before investing