Trade setup for Tuesday 02-August-2022: Nifty and Bank Nifty Sentiments to know before the opening bell

Tuesday 02, August 2022 outlook of nifty and bank nifty levels and sentiment report generated by algo. Please read carefully and plan your trade on nifty and bank nifty accordingly.

NIFTY 50

• NIFTY 50 sentiment positive and upside trend continues.
• NIFTY 50 should cross above 17356.25 - 17360.65 for next targets 17408.20 and 17485.15.
• Closing Price: 17340.05 (181.80)
• Supply Zone: 17356.25 - 17360.65
• Demand Zone: 17154.80 - 17206.75
• Resistances: 17360.65, 17408.20, 17485.15
• Supports: 17206.75, 17159.20, 17082.25

NIFTY BANK

• NIFTY BANK sentiment positive and upside trend continues.
• NIFTY BANK should cross above 37939.60 - 37953.38 for next targets 38079.02 and 38282.40.
• Closing Price: 37903.20 (411.80)
• Supply Zone: 37939.60 - 37953.38
• Demand Zone: 37407.20 - 37546.62
• Resistances: 37953.38, 38079.02, 38282.40
• Supports: 37546.62, 37420.98, 37217.60

NIFTY PSU BANK

• NIFTY PSU BANK sentiment positive and upside trend continues.
• NIFTY PSU BANK should cross above 2842.95 - 2843.20 for next targets 2861.12 and 2890.53.
• Closing Price: 2831.20 (46.25)
• Supply Zone: 2842.95 - 2843.20
• Demand Zone: 2766.20 - 2784.12
• Resistances: 2842.95, 2861.12, 2890.53
• Supports: 2784.12, 2765.95, 2736.53

NIFTY IT

• NIFTY IT sentiment positive and upside trend continues.
• NIFTY IT should cross above 29346.22 - 29376.65 for next targets 29451.88 and 29622.90.
• Closing Price: 29220.00 (67.70)
• Supply Zone: 29346.22 - 29376.65
• Demand Zone: 28928.95 - 29004.18
• Resistances: 29346.22, 29451.88, 29622.90
• Supports: 29004.18, 28898.52, 28727.50

NIFTY AUTO

• NIFTY AUTO sentiment positive and upside trend continues.
• NIFTY AUTO should cross above 12974.35 - 12984.31 for next targets 13066.06 and 13198.38.
• Closing Price: 12953.65 (410.45)
• Supply Zone: 12974.35 - 12984.31
• Demand Zone: 12627.95 - 12719.66
• Resistances: 12984.31, 13066.06, 13198.38
• Supports: 12719.66, 12637.91, 12505.58

NIFTY FMCG

• NIFTY FMCG is strongly bullish
• NIFTY FMCG sentiment strongly positive. Upside trend continues
• if NIFTY FMCG breaks above the 42595.58 - 42610.50, Rally starts. Targets 42760.68 and 42894.26
  If NIFTY FMCG crosses above 42673.68, then it may touch 42795.06
• Closing Price: 42526.75 (39.35)
• Supply Zone: 42595.58 - 42610.50
• Demand Zone: 42343.35 - 42391.48
• Resistances: 42595.58, 42658.63, 42760.68
• Supports: 42391.48, 42328.43, 42226.38

NIFTY METAL

• NIFTY METAL is strongly bullish
• NIFTY METAL sentiment strongly positive. Upside trend continues
• if NIFTY METAL breaks above the 5586.50 - 5588.10, Rally starts. Targets 5643.82 and 5688.89
  If NIFTY METAL crosses above 5627.73, then it may touch 5669.64
• Closing Price: 5578.15 (92.35)
• Supply Zone: 5586.50 - 5588.10
• Demand Zone: 5496.35 - 5519.23
• Resistances: 5588.10, 5609.38, 5643.82
• Supports: 5519.23, 5497.95, 5463.52

NIFTY MEDIA

• NIFTY MEDIA sentiment positive and upside trend continues.
• NIFTY MEDIA should cross above 2134.78 - 2134.90 for next targets 2147.11 and 2167.07.
• Closing Price: 2126.90 (47.85)
• Supply Zone: 2134.78 - 2134.90
• Demand Zone: 2082.65 - 2094.86
• Resistances: 2134.78, 2147.11, 2167.07
• Supports: 2094.86, 2082.53, 2062.57

NIFTY REALTY

• NIFTY REALTY shown mild bullish reversal.
• NIFTY REALTY sentiment may turn positive. Downside trend may change.
• NIFTY REALTY should stay above 450.87 for the confirmation of the trend change.
• NIFTY REALTY should cross above 453.60 - 453.64 for the targets 455.35 and 458.12.
• Closing Price: 452.65 (1.70)
• Supply Zone: 453.60 - 453.64
• Demand Zone: 446.35 - 448.10
• Resistances: 453.64, 455.35, 458.12
• Supports: 448.10, 446.39, 443.62

NIFTY PHARMA

• NIFTY PHARMA shown strong bearish reversal.
• NIFTY PHARMA sentiment turned strongly negative. Upside trend changes.
• if NIFTY PHARMA colapses below 12707.70 - 12718.85, Falling starts. Targets 12610.05 and 12698.08
  If NIFTY PHARMA crosses below 12670.02, then it may touch 12589.98.
• Closing Price: 12766.85 (-9.70)
• Supply Zone: 12853.35 - 12883.75
• Demand Zone: 12707.70 - 12718.85
• Resistances: 12853.35, 12894.90, 12962.15
• Supports: 12718.85, 12677.30, 12610.05

NIFTY ENERGY

• NIFTY ENERGY sentiment positive and upside trend continues.
• NIFTY ENERGY should cross above 26825.10 - 26836.84 for next targets 27020.91 and 27318.85.
• Closing Price: 26746.45 (728.05)
• Supply Zone: 26825.10 - 26836.84
• Demand Zone: 26045.15 - 26240.96
• Resistances: 26836.84, 27020.91, 27318.85
• Supports: 26240.96, 26056.89, 25758.95

NIFTY CONSUMPTION

• NIFTY CONSUMPTION sentiment positive and upside trend continues.
• NIFTY CONSUMPTION should cross above 7622.05 - 7623.88 for next targets 7644.50 and 7677.87.
• Closing Price: 7614.80 (99.95)
• Supply Zone: 7622.05 - 7623.88
• Demand Zone: 7534.70 - 7557.15
• Resistances: 7623.88, 7644.50, 7677.87
• Supports: 7557.15, 7536.53, 7503.17

NIFTY FIN SERVICE

• NIFTY FIN SERVICE sentiment positive and upside trend continues.
• NIFTY FIN SERVICE should cross above 17602.45 - 17605.54 for next targets 17650.01 and 17722.00.
• Closing Price: 17584.20 (146.40)
• Supply Zone: 17602.45 - 17605.54
• Demand Zone: 17414.00 - 17461.56
• Resistances: 17605.54, 17650.01, 17722.00
• Supports: 17461.56, 17417.09, 17345.10

INDIA VIX

• INDIA VIX shown strong bullish reversal.
• INDIA VIX sentiment turned strongly positive. Downside trend changes.
• if INDIA VIX breaks above 17.63 - 17.67, Rally starts. Targets 18.74 and 19.61
  If INDIA VIX crosses above 18.45, then it may touch 19.41.
• Closing Price: 17.49 (0.94)
• Supply Zone: 17.63 - 17.67
• Demand Zone: 15.89 - 16.34
• Resistances: 17.67, 18.08, 18.74
• Supports: 16.34, 15.93, 15.26

Note: This report was auto-generated as per the previous trading-day data. Market may not obey this if there is any global event or unforseen or uncertain news flow.

Disclaimer: These are only suggestive technical rules that have been found to work well over time in the market. These are not any trading or investing recommendations. We suggest you to take advice from certified experts for trading and investing. Neither PickMyStox nor any of its associates are responsible for any trading or investing loss.