On Tuesday, market opened negative and traded in the range till first-half of trading session however Banks, Realty and Auto attract good buying during second-half of session helped market to recover from lows of day and closed up in green whereas Oil & Gas, Metals and IT counters underperformed. Overall it was a highly volatile trading session. Volume for the day was higher then previous trading session. Market breadth was positive. Midcap and small caps index closed up in green.
The Short term trend will turn negative below the level of 5830.
For the day, the level of 5840 and 5815 may act as a major support for the market and the level of 5895 and 5920 may act as a major hurdle. Oil & Gas and Fertilizers may attract good buying.
"Spot Levels" Day trader can go long on nifty above 5895 with stop loss 5865 for target 5920 / 5950 and can go short below 5840 with stop loss 5870 for target 5815 / 5785.
Index Range
Nifty: 5862.70
Range: 5815-5920
Resistance: 5895-5920-5950
Support: 5840-5815-5785
Bank Nifty: 11952.60
Range: 11770-12160
Resistance: 12045-12105-12160
Support: 11880-11825-11770
Short term: Up (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: 6499.13-5609.67= +889.46
DII: 1507.32-1942.35= -435.03
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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