Nifty and Bank Nifty View for 13-Jul-2021

Nifty Analysis

Nifty made a gap-up opening today but starting resisting at 0.618 fib level. I alerted on my Telegram Channel at 10.38 am and bought 15750 PE at 52. Then Nifty was range bound and up to 1:00 PM. Looking at the 15 minutes candles between 10.38 to 13.00 hrs I noticed there was sell on rise. In fact, in my Weekly Nifty Analysis, I informed my members that if Nifty resisted 15790 levels, then you can see a fall and exactly the same thing happened at 01:00 PM and you can see the big red candle and 15750 CE made a high of 144.55 ( 92 points up from my buy price). I booked my profit.

Now at close, nifty took support at 15644 levels and you can see a long bullish candle (1445 hrs) covering the previous red candle 1430 hrs on 15 min chart.

Now, what next?

If Nifty breaks 15632 then you may see Nifty going further down to 15503 levels in the coming days. But if it starts to trade above 15790 levels then you may find Nifty going up till its resistance 15915.