Nifty and bank nifty index 25/07/23
Charts and index daily # 381
Nifty 50 current price - 19680
Nifty future current price – 19692
Yesterday closing analysis
Niftyfut Outlook:
Niftyfut has moved from 16450 (20th Dec 2021) to 18363.50 (18th Jan 2022). On 25th JUL 2023, JUL Fut - closed at 19692 - 30min 20EMA – 19706
Nifty taken support 19650 and resistance around 30min 100 EMA - 19717
Niftyfut Support: 19000 - 18700 - 18500 - 18350 - 18240 - 18160 - 18020 -17850.
Niftyfut Resistance: No resistance
Niftyfut Range: (19000 - 20000) for this week (24th Jul 2023 to 28th Jul 2023)
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Bank nifty current price – 45845
BankNifty Fut current price – 45924
Yesterday closing price analysis.
BankNifty Fut Outlook:
Banknifty future has moved from 34150 (20th Dec 2021) to 38965.65 (18th Jan 2022). On 25th JUL 2023, it closed Above 200 EMA - 42125
Banknifty taken support at 45700 and resistance above 20 min EMA 45922.
EMA signal shows it’s moving up and price was fallen back below EMA signal price.
It was not correct to trade in market,with price moving up and down with EMA signal.
EMA signal can be used to check how traders and HNI using the price to take profit from small moves. So 20 to 30 points moves can give them lakhs profit.
For retail investors it will be profit 300 rs or 500 rs post charges and tax. And retail traders need to aware they may lose 1000 rs even with watching the price while trading day.
Bank Nifty Fut Support: 45000 - 44250 - 44000 - 43590 - 43030 - 42500 - 42000 - 41530.
Bank Nifty Fut Resistance: No resistance.
Bank Nifty Fut Range: (43000 - No resistance) for this week (24th Jul 2023 to 28th Jul 2023)