Nifty and bank nifty index 07/07/22

Charts and index daily #123

Nifty 50 current price – 15989.80

Nifty future current price – 15990.45

Niftyfut Outlook:

Niftyfut has moved from 16450 (20th Dec 2021) to 18363.50 ( 18th Jan 2022). On 06th Jul 2022, it closed at 15990.45 30min 20EMA – 15917.00

If today 07th Jul, it opens or moves above 16092 it can move further until 16163.

Until the Nifty close above 15940 does not go long. If went long hold for 16500 in July month and also if US market falls. Nifty also may fall to 15300 in July month.

Niftyfut Support: 15935 - 15722 -15666 - 15503 - 15323 - 15156.

Niftyfut Resistance: 16163 - 16266 - 16448 - 16567 - 16700.

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 – 34324.25

BankNifty Fut current price – 34370.10

BankNifty Fut Outlook:

Banknifty future has moved from 34150 (20th Dec 2021) to 38965.65 (18th Jan 2022). On 06th Jul 2022, it closed below 200 EMA - 35490.00

If today 07th Jul -Banknifty - opens above or moves above a resistance level of 34421.00, bank nifty Fut can move till 34800.

Banknifty fut may face some resistance near 34300 - 34400.

If it closes above 34400 then bank nifty may rally till 34800 in short term in July month.

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

BankNifty Fut Resistance: 33897 - 34280 - 34430 - 34616.50 - 35117.

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

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