Midcap Nifty Select Prediction for 22 July 2024 along with S & R

Midcap Nifty Select Prediction for 22 July 2024 along with Support & Resistance Levels

A negative RSI crossover and Rising Wedge pattern suggest a potential correction; with potential targets on downside 12,100 on intraday basis.
However, the index has initial support at around 12,180-12,100, in case of a time-based correction. If broken, the next support level is at 12,000 being a roundoff number. On the other hand, resistance is at 12,300 and 12,400 to 12,500.
Max Pain: 12,250 PCR: 0.45 IV: 13.91 as on 19-07-2024
The market can witness low volatility. Since, PCR indicates overbought market, Midcap Nifty Select can show bounce back at support levels.

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