Nifty Future for Week July 7-11 - Rakesh Chandra

As mentioned last week, this was the last leg of selling.

Markets have behaved as expected, first touching the lower target then posting a smart recovery of over 200 points in a single day. This was followed by a consolidation between 4000 and 3800. All of this shows that bulls have started to awaken now, although they have not taken charge completely. .

This week too a similar story would repeat and market volatility is high on the cards. Definitely, this area is the accumulation area for the coming days, and I advise that some buying at lower levels.

The following targets are valid for the current week only.

Upwave (4-5) T3: 4,240;
Upwave (2-3) T2: 4,170;
Upwave (0-1) T1: 4,057.

Price is bullish above 3,986.86;
Price is bearish below 3,943.64.

Downwave (0-1) LT1 : 3,874;
Downwave (2-3) LT2 : 3,760;
Downwave (4-5) LT3 : 3,690.