 "Photo: Shutterstock.com")
Nifty View:
Market remained range bound throughout the day on Wednesday, July 17 with broader Nifty50 managing to trade in tight 50 points range. The index closed at 11,687.50 mark, up 24.90 points, respecting 11,600. Market has been closing higher for the last seven days, making higher highs and higher lows.
Market is witnessing shifting of call writing from lower strikes to higher strikes, which indicates that resistance for market is shifting upwards. Now key resistance stands at 11,700 followed by 11,800. Support level stands at 11,600. Bank Nifty is likely to breakout above 30,880.
Market is witnessing shifting of call writing from lower strikes to higher strikes, which indicates that resistance for market is shifting upwards. Now key resistance stands at 11,700 followed by 11,800. Support level stands at 11,600. Bank Nifty is likely to breakout above 30,880.
In the coming week
