Recommendations by Mr. Aditya Gaggar, Director of Progressive Shares
After a muted trading activity, Nifty50 settled 07th July trade at 25,461. A DOJI candlestick on the daily chart depicts indecisiveness between the Bulls and Bears. A breakout on either sides of the range (25,380-25,580) is essential for a directional move. BankNifty has also formed the same DOJI candlestick pattern, signalling uncertainty. The immediate resistance and support levels are 57,200 and 56,850, respectively. Except for FMCG and Pharma, all the other sectors are oscillating in their respective ranges due to the lack of any fresh triggers. Awaiting a concrete move for a directional trend.
