Nifty Trading Levels for the Day

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Fed chairman has given dovish statement with 0.75% rate hike.

Nifty Spot View: 28/07/2022
Cmp: 16641.80
Support & Downside Range: 16600--16545
Resistance & Upside Range: 16760—16811—16831 zone, 17040 

Short Term Trend Reversal Level:--  downside 15800

Trading View: Intraday bias remains buy on dips till nifty is trading above 16545 spot levels any dip in zone near 16650—16600 is a good buying chance by keeping stop loss below 16545 whereas in todays gap up upside 16811—16831 spot levels going to act as immediate hurdle and as per options data 16800 calls has highest OI standing so its clear once we cross and sustain above 16831 spot for 1hr we may see strong short covering move to start which can take nifty towards 17040 intraday, on other hand if 16831 unable to sustain by bulls on expiry day then we may see todays expiry between 16680—16750 zone only.

Make use of our Nifty Trading Levels to make money on a daily basism

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