As advice last Monday look for buying in market only above the level of 6130 only, however if market remain below the same will attract fall upto 5930. For this week use rally to cut long side position and look for buying only if market remains above level of 6130, As Told last week also medium term trend will turn negative below the level of 5930 and if market remains below the same will attract fall upto levels of 5500-5600 with a minor support at 5825. Being the expiry week for November series, market may remain highly volatile.
For the day, the level of 5860 and 5830 may act as a major support for the market and the level of 5915 and 5945 may act as a major hurdle. Be cautious as market may continue the negative trend. Banking and IT may attract selling however power may attract buying
The Medium term trend will turn positive above the level of 5930.
"Spot Levels" Day trader can go long on nifty above 5915 with stop loss 5885 for target 5945 / 5970 and can go short below 5860 with stop loss 5890 for target 5830 / 5805.
INDEX RANGE
NIFTY: 5890.30
Range: 5830-5945
Resistance: 5915-5945-5970
Support: 5860-5830-5805
BANK NIFTY: 12063
Range: 11860-12255
Resistance: 12140-12205-12255
Support: 11975-11920-11860
Short term: Down (6130)
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: 3926.43-3558.52= +367.91
DII: 1697.72-1397.42= +300.19
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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