On Tuesday, market opened flat, traded weak in a range thru out the day and closed down in red. Banks and Realty attracted heavy selling whereas Oil & Gas and Metals attracted good buying. Overall it was a highly volatile trading session. Volume for the day was slightly higher then previous trading session. Market breadth was negative. Midcap and Small caps index closed down in red.
For the day, the level of 5965 and 5940 may act as a major support for the market and the level of 6020 and 6045 may act as a major hurdle. Banking, Realty and Metals may attract selling pressure.
The Medium term trend will turn positive above the level of 6030.
"Spot Levels" Day trader can go long on nifty above 6020 with stop loss 5990 for target 6045 / 6070 and can go short below 5965 with stop loss 5995 for target 5940 / 5910.
Index Range
Nifty: 5976.55
Range: 5910-6075
Resistance: 6020-6045-6075
Support: 5965-5940-5910
Bank Nifty: 11695.30
Range: 11340-12000
Resistance: 11780-11890-12000
Support: 11560-12450-11340
Short term: Up (5930)
Medium term: Down (6030)
Long term: Up (5350)
Cash Market Trading Activity (Prov. Figure in Rs. Crores)
Cat: Buy Val - Sell Val= Net Val
FII: 2914.37-3437.20= -522.83
DII: 1240.84-1668.06= -689.66
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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