Nifty Technical Views On Market For Monday (02-Aug)
On the basis of Technical views Nifty has breached the support level of 5,380 and descended down to close at 5,367 after breaching the vital 15 Days SMA(Simple Moving Average) level. Today Nifty closed below the vital levels of 9 & 15 Days SMA placed at 5,409 and 5,401, which doesn’t indicate a good sign for Indian Market. For upcoming trading session 5,238 and 5,215 levels may act as new support. Nifty Charts and reports are giving the signals for limited downward movement in the coming sessions. 5,350 may act as an important support level for Nifty to maintain its positive tempo intact, and on the other hand 5410-5432 may act as resistance level for nifty on Monday.
The BSE Sensex should find supports at 17,795 -17,720 and resistances at 18,020 and 18,150.
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