34930 looks to be a strong resistance and close above that e can expect to test 35057 again.
Resistance at 34927 we can expect it test previous closing and 34667.
If 34667 taken out we can expect good move to 34400 levels
15796 likely to face good resistance if Nifty opens slightly gap up. If that is taken out on up side may be we can goo for possible CE.
If CPR gives strong resistance then and the closing price is also compromised we can expect it to test 15696 and if that is taken out we can expect 15647.
Nifty expected gap down opening around 15750 levels.
Key levels to watch out 15783, any good resistance confirmed around these we can expect nifty to fill the gap to 15660 levels.
Will prefer to go long only if 15785 is formed a good support.
Expect a gap down opening in Bank Nifty too around 35000 levels.
A major supports for Bank Nifty is around 35070 & 35850 levels, any good support confirmation around these levels we can possibly look for bullish reversal trades.
Global data looks weak and Expected Nifty to open gap down around 15700 levels.
Good support for Nifty is around 15680 and if it sustains and formed a good supporting candle we can possible look for long opportunity, if it is taken out we can go short for lower levels.
Bank Nifty likely to open flattish to small gap up opening .
First Key resistance is 36006 levels if that sustains on opening then we can expect to go long and sit for 36105 & it that is taken out we can expect higher levels as plotted.
If 35808 is compromised then we can expect lower supports to be tested.
Nifty Trade setup for 16 July 2021
Nifty likely open with a small gap up around Bearish Reversal zone of 15951. If 15951 sustains then we can go long and sit for first target of 15977 & then sit for 16000 levels.
On the lower side we have good support around 15897 & if 15870 gets compromised we can expect 15840