Nifty and bank nifty index 08/07/22

Charts and index daily #124

Nifty 50 current price – 16132.90

Nifty future current price – 16148.15

Niftyfut Outlook:

Niftyfut has moved from 16450 (20th Dec 2021) to 18363.50 ( 18th Jan 2022). On 07th Jul 2022, it closed at 16148.15 30min 20EMA – 16070.00

If today 08th Jul, it opens or moves above 16163 it can move further until 16266.00

If went long at 16000 on 06072022, 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 – 34920.30

BankNifty Fut current price – 34981.80

BankNifty Fut Outlook:

Banknifty future has moved from 34150 (20th Dec 2021) to 38965.65 (18th Jan 2022). On 07th Jul 2022, it closed below 200 EMA - 35490.00

If today 08th Jul -Banknifty - opens above or moves above a resistance level of 35162, bank nifty Fut can move till 35480.00

If it closes above 34400 then bank nifty may rally till 34800 in short term in July month.BankNifty reached this level at the start of the month itself.

If HDFCBANK and ICICI bank will able to close above 1400 and 760, Banknifty may close above 200 EMA in July month itself.

Then Nifty can bottom out at the 15700 level and we may start seeing a new high in this year 2022.

BankNifty Fut Support: 34616.50 - 34430 - 34280 - 33897 - 33250 - 33514.

BankNifty Fut Resistance: 35117 - 35645 - 35967 - 36400 - 36691.50

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

Kindly like, share, and subscribe to receive the newsletter directly to your email box.