Nifty Future for July 18 - Viral Joshi

Market looks in a mood for a rally. The global cues and crude oil are supporting. As I said earlier, if crude oil sustains below $137, we could see $125 level, and it is almost there at $129.

For Nifty future, pivot is 3920 and support is 3800.

S1 3900; S2 3880; S3 3850; and R1 3950; R2 3980; R3 4050/4100;

Buy above 3950 and if it breaks 3980 then 4050-4100.
Short below 3900 and if it breaks 3880 then 3850-3800.

Daily moving averages:

5DMA 3943;
20DMA 4077;
50DMA 4512;
200DMA 5183.