Headline indices Sensex and Nifty logged strong gains on July 28 as sentiment was underpinned by the expectation that the US Fed would maintain its dovish policy stance which will result in liquidity inflow in emerging markets like India.
Sensex closed with a strong gain of 558 points, or 1.47 percent, at 38,492.95 and Nifty settled at 11,300.55, up 169 points or 1.52 percent.
According to pivot charts, the key support level for the Nifty is placed at 11,195.33, followed by 11,090.17. If the index moves up, the key resistance levels to watch out for are 11,361.73 and 11,422.97. The Nifty Bank index closed with a gain of 1.17 percent at 22,105.20. The important pivot level, which will act as crucial support for the index, is placed at 21,733.39, followed by 21,361.6. On the upside, key resistance levels are placed at 22,354.99 and 22,604.8.
Nifty – Maximum call OI of nearly 43 lakh contracts was seen at 11,500 strike, which will act as crucial resistance in the July series. Maximum put OI of 50.28 lakh contracts was seen at 11,000 strike, which will act as crucial support in the July series.
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