Stock picks of the day: Nifty closed in red only once in July in last 15 years

Nifty50 index snapped its 2-day losing streak and closed just a shade below 11800 levels on Tuesday. The index closed above most of its short term moving averages.

A move above 11620-11590 can trigger short covering rallies to the upper end of the range which is 11850. Any significant move will be visible on a breakout on either side from this range.

Moreover, in the last 15 years of trading history, the index has closed the July series only once in red indicating that July month is dominated by the bulls.