On Tuesday, market opened flat and remains highly volatile thru the day. Last hour of selling in banking and metals made market closed in red. Volume for the day was quite low. Market breadth was positive. Midcap and Smallcaps index closed in green.
For the day, the level of 6120 and 6090 may act as a major support for the market and the level of 6175 and 6205 may act as a major hurdle.
The short term trend will turn negative below the level of 5945.
Day trader can go long on nifty above 6175 with stop loss 6150 for target 6205 / 6230 and can go short below 6120 with stop loss 6150 for target 6090 / 6065
Positional trader can go short on nifty below 6120 (closing required) with stop loss 6225 (closing basis) for target 5990-5970 & 5925-5885
INDEX RANGE
NIFTY: 6145.80
Range: 6090-6205
Resistance: 6175-6205-6230
Support: 6120-6090-6065
BANK NIFTY: 12596.50
Range: 12385-12780
Resistance: 12665-12720-12780
Support: 12500-12445-12385
Short term: Up (5945)
Medium term: UP (5760)
Long term: Up (5180)
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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