On Monday, market opened gap-up and traded in a small range for thru out the day. Banks, Realty and Capital Goods outperformed. 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 6100 and 6075 may act as a major support for the market and the level of 6130 and 6155 may act as a major hurdle. Market will be range bound & selling expected at higher level.
The Short term trend will turn positive above the level of 6130.
"Spot Levels" Day trader can go long on nifty above 6130 with stop loss 6100 for target 6155 / 6185 and can go short below 6100 with stop loss 6130 for target 6075 / 6045.
INDEX RANGE
NIFTY: 6117.55
Range: 5965-6075
Resistance: 6130-6155-6185
Support: 6100-6075-6046
BANK NIFTY: 12734.90
Range: 12555-12885
Resistance: 12775-12830-12885
Support: 12665-12610-12555
Short term: Down (6130)
Medium term: UP (5930)
Long term: Up (5180)
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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