On Tuesday, market opened flat and traded weak in a range thru out the day however during final hour of session market attracted buying and closed up in green. Realty and FMCG outperformed whereas Oil & Gas sector was under selling pressure. Overall it was a highly volatile trading session. Volume for the day was lower then previous trading session. Market breadth was positive. Midcap and Small caps index closed up in green.
For the day, the level of 6290 and 6265 may act as a major support for the market and the level of 6320 and 6345 may act as a major hurdle. Auto and Banking counters may attract profit booking.
The Short term trend will turn negative below the level of 6130.
"Spot Levels" Day trader can go long on nifty above 6320 with stop loss 6290 for target 6345 / 6375 and can go short below 6290 with stop loss 6320 for target 6265 / 6235.
INDEX RANGE
NIFTY: 6301.55
Range: 6265-6345
Resistance: 6320-6345-6375
Support: 6290-6265-6235
BANK NIFTY: 13121.30
Range: 12965-13300
Resistance: 13190-13245-13300
Support: 13075-13020-12965
Short term: Up (6130)
Medium term: Up (5930)
Long term: Up (5180)
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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