Nifty & Banknifty Index View for 10th July 2020

It was yet another good day at the markets for the bulls with all the benchmark indices closing in the green. Nifty rallied more than 1% to close at 10813 up 107 points. Bank Nifty lead by the giant SBI was the outperformer, it closed at 22907 up 322 points.

SBI was the outperformer in the bank nifty and also played a major part in propelling Nifty towards 10800 mark.
The next target for Nifty would be 10850 followed by 10900 where the support would be around 10750 and if it is taken out 10700 is major support.

Bank Nifty will face resistance around 23050 and 23100 and will find support at 22700 levels.
There has been buying by FII’s in the cash market also in the index futures and in index options whole DII’s have sold in the cash market.