Analysis & Key Levels for July 22, 2021

Analysis for July 22, 2021

  1. In the previous analysis, I had mentioned that 15700 in Nifty Futures is an important level as price has not closed below that level for more than a month.

  2. Once, 15700 was taken out on the downside, we saw a fast move towards 15580.

  3. After a fall of about 140 points from the open, the market rebounded 100 points. Wild swings.

  4. Nifty Futures finally closed below 15700 at the close price of 15631.95.

  5. India VIX shot up by another 4%. Last week it was below 12, now it is above 13.

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  6. Only 20% of the Stocks in Nifty 50 ended in positive.

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  7. After a solid run, the REALTY stocks came under profit booking.

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  8. FMCG & Consumption sectors ended in green. Other sectors ended in red.

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  9. After the Monday mayhem, US & European Indices have turned positive.

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  10. The DOW futures is up by almost 200 points.

  11. FIIs sold for 2835 Crores and DIIs bought for 873 Crores.

  12. FIIs hold more short positions (56%) than long positions (44%). However, if there is a gap up opening tomorrow, they might have to close their short positions which might lead to a quick move above 15700.

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  13. Huge CALL additions happened at 15700. Again, if there is a gap up opening and if the price sustains above 15700, the one who wrote CALLs at 15700 might have to run for cover leading to a further up move above 15700.

  14. Even if the price shoots up above 15700, it is unlikely for Nifty to move above 15800 or 15900 as per the current Open Interest Buildup.

Please find below the key levels for tomorrow.


Key Levels for Nifty Futures July 22, 2021

  • Bulls to regain control above 15684. Targets on the upside are 15711, 15742, 15765.

  • Bears to stay in control below 15623. Targets on the downside are 15587, 15545 & 15503.

Note: The levels are based on Nifty Futures chart. Click here to see how to use the Key Levels.


Nifty Futures Chart (5-minute Timeframe)

All these data points are available in the Finvezto App. Check out the App here.

If you are looking for Banknifty, Reliance & Infosys Key Levels, please check here.


What is your market view for July 22, 2021 with respect to Nifty?

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

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