Nifty and bank nifty index 05/07/22

Charts and index daily #121

Nifty 50 current price – 15835.35

Nifty future current price – 15831.30

Niftyfut Outlook:

Niftyfut has moved from 16450 (20th Dec 2021) to 18363.50 ( 18th Jan 2022). On 04th Jul 2022, it closed at 15831.30 30min 20EMA – 15756.00

If today 05th Jul, it opens or moves above 15820 it can move further until 15930.

Until the Nifty close above 15940 does not go long.

Niftyfut Support: 15722 -15666 - 15503 - 15323 - 15156 - 14953.

Niftyfut Resistance: 15935 - 16163 - 16266 - 16448 - 16567.

Niftyfut Range: 15503 - 16266 for this week (04th Jul to 08th Jul 2022). if Nifty close above 15940, then Nifty can start its upward trend. Once Banknifty, the IT sector starts to support. Nifty can bottom out at this level of 15300 to 15700.

Bank nifty current price – 33940.90

BankNifty Fut current price – 34047.30

BankNifty Fut Outlook:

Banknifty future has moved from 34150 (20th Dec 2021) to 38965.65 (18th Jan 2022). On 04th Jul 2022, it closed below 200 EMA - 35453.11

If today 05th Jul - until Banknifty - opens above or moves above a resistance level of 34000, bank nifty Fut can move till 34381.00

If went long on 27th Jun 2022, please decide as per your risk management. Banknifty fut may face some resistance near 34300 - 34400.

Hope bank nifty may rally till 34800 in short term in July month.

BankNifty Fut Support: 33897 - 33250 - 33514 - 32950 - 32650 - 32251 - 31817.

BankNifty Fut Resistance: 34280 - 34430 - 34616.50 - 35117 - 35462.00

BankNifty Fut Range: 32500 - 34880 for this week (04th Jul to 08th Jul 2022).

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