On Wednesday, market opened flat and traded weak in a small range thru out the day and closed down in red. IT and Auto outperformed whereas Banking, Realty and FMCG sector was under selling pressure. Overall it was a 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 6250 and 6225 may act as a major support for the market and the level of 6305 and 6330 may act as a major hurdle.
The Short term trend will turn negative below the level of 6130.
"Spot Levels" Day trader can go long on nifty above 6305 with stop loss 6280 for target 6330 / 6360 and can go short below 6250 with stop loss 6280 for target 6225 / 6195.
INDEX RANGE
NIFTY: 6275.30
Range: 6225-6330
Resistance: 6305-6330-6360
Support: 6250-6225-6195
BANK NIFTY: 13007.10
Range: 12805-13190
Resistance: 13080-13135-13190
Support: 12915-12860-12805
Short term: Up (6130)
Medium term: Up (5930)
Long term: Up (5180)
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
Posts
No comments:
Post a Comment