Nifty gained 95 points on the first day of the week to close at six months high at 11,466.45, the highest close since February 27, 2020. Last week, Nifty took support at 20-day EMA which is placed at 11,230 currently. This support also coincides with the upward sloping trendline, adjoining the bottoms of July 14 and August 3, 2020. This trendline is currently placed around 11,250 levels. In the Nifty options segment, we have seen Put writing at 11,200 -11,300 levels. There are multiple pieces of evidence that suggest that Nifty is likely to find strong support in the range of 11,200-11,300 and unless the index closes below 11,200, the uptrend is still intact. On the higher side, immediate resistance is seen around 11,550 while far resistance is seen around 11,780. Nifty mid and small-cap indices have outperformed the benchmark indices in August so far where Nifty Midcap and Smallcap indices are up 11 percent and 15 percent, respectively, against a 3.5 percent rise in Nifty.