On Monday, market opened positive and traded in the range with buying in almost all the indices and closed up in green. Oil & Gas sector attract the major buying interest in the market. Moreover the move in market was just a relief rally for the last week fall in the market. Volume for the day was quite low then previous trading session. Market breadth was positive. Midcap Index small caps index closed up in green.
The Short term trend will turn positive above the level of 5830.
For the day, the level of 5785 and 5755 may act as a major support for the market and the level of 5870 and 5895 may act as a major hurdle.
"Spot Levels" Day trader can go long on nifty above 5870 with stop loss 5740 for target 5895 / 5920 and can go short below 5785 with stop loss 5815 for target 5755 / 5730.
Index Range
Nifty: 5830
Range: 5755-5895
Resistance: 5870-5895-5920
Support: 5785-5755-5730
Bank Nifty: 11828.30
Range: 11580-12125
Resistance: 11905-12015-12125
Support: 11795-11690-11580
Short term: Down (5830)
Medium term: Down (5930)
Long term: Up (5350)
Cash Market Trading Activity (Prov. Figure in Rs. Crores)
Cat: Buy Val - Sell Val= Net Val
FII: 3327.76-3171.56= +156.20
DII: 1473.24-1273.91= +199.33
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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