Quote on Technical Market Commentary for July 2nd , 2026 by Jatin Gedia - VP, Technical Research Teji Mandi Investment Technologies Pvt Ltd
Below the Quote on Technical Market Commentary for July 2nd , 2026 by Jatin Gedia - VP, Technical Research Teji Mandi Investment Technologies Pvt Ltd
Nifty continued the positive momentum from the previous trading session, closing with gains of 170 points at 24175. The anchored VWAP from the all time high is placed at 24368 (July fut). Therefore, caution is warranted because the index failed to surpass this level and sold off on the previous couple of occasions in April and May. A decisive breakout will pave the way for an upmove towards 24605 (April Month Swing High). The immediate support zone is 23800 - 23750. Bank Nifty took a backseat as the IT sector led the rally, contributing more than 50% to the upmove. The structure is still positive, however, consolidation is likely in the range 57500 - 58500.
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