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Nifty is in upbeat mood as all USA negative news has been discounted. Due to heavy shorting by FIIs in future we are now seeing short covering happening. So, Nifty will open gap up but it need to be seen if gap up will sustain or not.
Nifty Spot View: 29/07/2022
Cmp: 166929.60
Support & Downside Range: 16859—16800--16760
Resistance & Upside Range: 17040—17160—17225—17350
Short Term Trend Reversal Level:-- downside 15800
Trading View: Intraday bias remains bullish till nifty is trading above 16859 spot levels below it we may see some profit booking dip till 16760 levels whereas in todays gap up market immediate rest to watch is 17160 spot levels sustain above it for 1 hr we may see rally to stretch upside towards minimum 17225 and max 17350 spot levels.
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