On Tuesday, market open flat and traded in the negative range thru out the day, with selling across all the indices however Auto and Realty out performed whereas Metals and Banks under perform. Overall it was the highly volatile trading session. Volume for the day was lower then previous trading session. Market breadth was negative. Midcap and Small caps index closed flat.
For the day, the level of 6065 and 6045 may act as a major support for the market and the level of 6105 and 6130 may act as a major hurdle. Market will be flat and will trade in a range. Metals and Telecom may attract selling pressure, Realty may attract buying.
The short term trend will turn positive above the level of 6130.
Day trader can go long on nifty above 6105 with stop loss 6085 for target 6130 / 6150 and can go short below 6065 with stop loss 6085 for target 6045 / 6020.
INDEX RANGE
NIFTY: 6082
Range: 6040-6130
Resistance: 6105-6130-6150
Support: 6065-6045-6025
BANK NIFTY: 12332.70
Range: 12180-12510
Resistance: 12390-12450-12510
Support: 12290-12230-12180
Short term: Down (6130)
Medium term: UP (5930)
Long term: Up (5180)
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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