On Thursday, market opened higher and had a highly volatile trading session with a big see-saw movement (up-down-up), closed flat up in green. Banking stocks was under heavy selling pressure however Metals and Auto attracted huge buying. Volume for the day was higher then previous trading session. Market breadth was negative. Midcap Index closed up in green whereas Small caps Index closed down in red.
For the day, the level of 5965 and 5940 may act as a major support for the market and the level of 6025 and 6050 may act as a major hurdle.
The Medium term trend will turn negative below the level of 5930.
"Spot Levels" Day trader can go long on nifty above 6025 with stop loss 5995 for target 6050 / 6080 and can go short below 5965 with stop loss 5995 for target 5940 / 5910.
INDEX RANGE
NIFTY: 5998.80
Range: 5940-6050
Resistance: 6025-6050-6080
Support: 5965-5940-5910
BANK NIFTY: 12315.20
Range: 12080-12625
Resistance: 12405-12515-12625
Support: 12290-12185-12080
Short term: Down (6170)
Medium term: Up (5930)
Long term: Up (5500)
Cash Market Trading Activity (Prov. Figure in Rs. Crores)
Cat: Buy Val - Sell Val= Net Val
FII: 4062.11-4514.82= -452.71
DII: 1664.85-1546.42= +118.43
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
No comments:
Post a Comment