On Thursday, market open flat and traded in the range till first half of the session however during second half of the session huge buying came in Oil & Gas, Banking and FMCG counters which helped market to breach all higher levels for the day closed up in green with good gains. Volume for the day was higher then previous trading session. Market breadth was positive. Midcap and Small caps index closed in positive.
For the day, the level of 6070 and 6045 may act as a major support for the market and the level of 6130 and 6155 may act as a major hurdle. Profit booking expected. Realty and IT may attract selling.
The short term trend will turn positive above the level of 6130.
Day trader can go long on nifty above 6130 with stop loss 6100 for target 6155 / 6180 and can go short below 6070 with stop loss 6100 for target 6045 / 6020.
INDEX RANGE
NIFTY: 6101.50
Range: 6045-6155
Resistance: 6130-6155-6180
Support: 6070-6045-6020
BANK NIFTY: 12435.80
Range: 12290-12570
Resistance: 12460-12515-12570
Support: 12410-12355-12290
Short term: Down (6130)
Medium term: UP (5760)
Long term: Up (5180)
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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