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Below are View on Nifty 06th July 2022 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

"The Nifty bulls came back strong from the lower levels and ended the index on a high note. The index surpassed the level of 16,000 and closed above it which indicates a continuation on the upside towards 16200 levels. The lower-end support stands at the 15,800 level and as long as this support is held the index remains in a buy mode.

The Bank Nifty covered the entire previous day's losses and closed near the day's high indicating sharp short-covering throughout the day. The index is comparatively stronger than the nifty index and continues to be in buy mode with strong support at the 33800 level. The index is likely to test the upside level of 35,000-35,500 on the upside which coincides with its 200DMA"

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