On Tuesday, market opened gap-down and remain under selling pressure due to week global clues, however buying in final hour of trading session helped market to cover major losses for the day but closed down in red. Realty, Metals and Oil & Gas stocks were under heavy selling pressure. Volume for the day was higher then previous trading session. Market breadth was negative. Midcap Index and Small caps Index closed down in red.
For the day, the level of 5910 and 5885 may act as a major support for the market and the level of 5970 and 5995 may act as a major hurdle.
The Medium term trend will turn positive above the level of 5970.
"Spot Levels" Day trader can go long on nifty above 5970 with stop loss 5940 for target 5995 / 6025 and can go short below 5910 with stop loss 5940 for target 5885 / 5855.
INDEX RANGE
NIFTY: 5934.75
Range: 5885-5995
Resistance: 5970-5995-6025
Support: 5910-5885-5855
BANK NIFTY: 12206.5
Range: 11885-12530
Resistance: 12315-12420-12530
Support: 12090-11985-11885
Short term: Down (6130)
Medium term: Down (5970)
Long term: Up (5350)
Cash Market Trading Activity (Prov. Figure in Rs. Crores)
Cat: Buy Val - Sell Val= Net Val
FII: 2868.01-4361.2= -1439.19
DII: 2255.28-752.31= +1502.97
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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