Analysis & Key Levels for July 30, 2021

  1. Yesterday I had mentioned that the open interest build was huge at 15800 and 15800 and it is unlikely for Nifty to close above 15800. Nifty settled at 15778.
  2. Currently, all world markets are in green. SGX Nifty is trading at 15823 as I am writing this.
  3. FIIs have reduced their magnitude of selling in the cash market and they have also reduced their short positions on the Index.
  4. Market Participants have added PUTs confidently at 15700 and 15800. They believe the market won’t close below 15700 in the coming week.
  5. But still, the CALLs written are more than the PUTs. 15800, 15900 and 16000 have huge CALL build up.
  6. Nifty Futures need to cross 15932 to cause some panic and trigger short covering. When that happens market might scale 16000.
  7. Till then we could see a sideways market between 15500 and 16000.
  8. With this, let us move to the key levels.

Key Levels for Nifty Futures

  • Bulls to control above 15794. Targets on the upside are 15813, 15829, 15844, 15861.

  • Bears to control below 15766. Targets on the downside are 15743, 15725 & 15704.

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 the 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 30, 2021 with respect to Nifty?

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

0 voters

Please update for Bank nifty also sir…

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