Analysis & Key Levels for July 12, 2021

Analysis for July 12, 2021

  1. In the previous day’s analysis, we had mentioned that the Bulls are likely to be back in control only above 15776 (Nifty Futures).
  2. Nifty Futures closed at 15720 indicating that the Bears are in control.
  3. Despite the Nifty closing in red on Friday, the India VIX fell by 4.55%. This is a good sign.
  4. The Mid-Cap space looks stronger compared to Nifty 50. The Mid-Cap index closed in green both in the daily and weekly timeframes.
  5. REALTY and METAL Stocks performed well last week, whereas AUTO and PSU Banks continued to witness selling pressure.
  6. On Friday, after the Indian Markets closed, the European and American markets closed in green.
  7. SGX Nifty also turned positive.
  8. In the last month, Asian Markets including India have underperformed (2-4% Fall).
  9. The US Indices have done well in the last 1 month (4-5% Increase)
  10. FIIs sold for ₹1125 crores in the Cash Market and the DIIs bought for ₹107 Cr.
  11. The FIIs are currently holding more short positions (54.2%) than long positions (45.8%).
  12. There is maximum OI build-up at 15700 w.r.t current week expiry. Calls were added at 15700 on Friday.
  13. Even if you look at the OI build-up of Monthly Expiry, Calls were added at 15700.
  14. 15700 could act as a strong resistance on Monday. If it breaks, we could witness a quick move on the upside.
  15. Find below the key levels for tomorrow’s trade. For Key Levels of Banknifty & Stocks, visit this link.

Key Levels for Nifty Futures July 12, 2021

  • Bulls will be back in control above 15741. Targets on the upside are 15776, 15806 & 15844.

  • Bears to stay in control below 15681. Targets on the downside are 15659, 15629 & 15597.

Note: The levels are based on Nifty Futures chart.

Nifty Futures Chart

What is your market view for July 12, 2021 with respect to Nifty?

  • Bullish
  • Moderately Bullish
  • Sideways
  • Moderately Bearish
  • Bearish

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