Monthly, there is two possibilities.
- July month candle is a “firki”, like the previous two months.
In which case, monthly closing is 23900-24000. - More likely possibility of a green candle after two months of consolidation. Monthly closing 24900-25000.
How to play
- If scenario 1 plays out, go for aggressive longs in August.
- Any dips come in July, buy calls or sell puts at supports.
July is historically a bullish month. Last 15 years average monthly returns in Nifty
