On Tuesday, market open flat and traded in the range however during final hour of trading session due to heavy selling / profit booking in IT, Realty, Bank and Metals led the market shed all gains for the day and closed down in red, even failed to breach the level of 6130 and closed below 6090 in short market will be heading for the levels 5925-5885. Volume for the day was slightly lower then last trading session. Market breadth was negative. Midcap and Small caps index closed flat.
For the day, the level of 5990 and 5960 may act as a major support for the market and the level of 6045 and 6075 may act as a major hurdle. Market will be negative and will trade in a range. Oil & Gas, Realty and Banks may attract profit booking.
The short term trend will turn positive above the level of 6130.
Day trader can go long on nifty above 6045 with stop loss 6015 for target 6075 / 6090 and can go short below 5990 with stop loss 6015 for target 5960 / 5935.
INDEX RANGE
NIFTY: 6027.30
Range: 5960-6075
Resistance: 6045-6075-6090
Support: 5990-5960-5935
BANK NIFTY: 12245.70
Range: 12075-12410
Resistance: 12300-12355-12410
Support: 12185-12130-12075
Short term: Down (6130)
Medium term: UP (5760)
Long term: Up (5180)
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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