Bank Nifty OUtlook 19th July 2022

1. US Markets Opened higher, traded 1% higher for some time but than started falling and DOW closed at 0.69% down.

2. SGX Nifty Trading at 100 points down suggesting Gap Down opening for our markets.

3. Coming to local markets, Markets rallied yesterday annd Nifty closed at 1.43% higher and Bank Nifty almost 2% higher.

4. Bank Nifty is more positive than Nifty.

5. But since markets rallied alot and global markets are negative, so there might be some profit booking at this levels.

6. But overall our markets are bullish and its BUY ON DIPS opportunity today.

7. Support and Resistance

Support	Resistance
35350	35600
35100	35900
34500

8. Yesterday Low 34887, High 35690

9. Daily Channel Range : 35000-35600

10. Weekly Range : 34400-35900

11. Hourly Range : 35350-35500

12. Level to watch is 35350. If remains belowthis level, it can fall till 35100. If takes support at 35350 and remains above this level for 30 mts, than Bank Nifty can touch 35600