On Monday, market opened flat with some selling pressure, but latter attracted good buying in mostly all the indices and traded higher thru out the day. Market closed up in green with good gains. Metals, Realty, Capital Goods and Power outperformed whereas FMCG under performed. Overall it was a highly volatile trading session. Volume for the day was slightly lower then previous trading session. Market breadth was positive. Midcap and Small caps index closed up in green.
For the day, the level of 5890 and 5865 may act as a major support for the market and the level of 5920 and 5945 may act as a major hurdle. Market may remain highly volatile, be cautious at higher levels. Banks and Realty may attract selling.
Short term trend will turn positive above the level of 5970
"Spot Levels" Day trader can go long on nifty above 5920 with stop loss 5890 for target 5945 / 5975 and can go short below 5890 with stop loss 5920 for target 5865 / 5835.
Index Range
Nifty: 5907.65
Range: 5835-5975
Resistance: 5920-5945-5975
Support: 5890-5865-5835
Bank Nifty: 11518.10
Range: 11360-11690
Resistance: 11580-11635-11690
Support: 11460-11410-111360
Short term: Down (5970)
Medium term: Down (6070)
Long term: Up (5350)
Cash Market Trading Activity (Prov. Figure in Rs. Crores)
Cat: Buy Val - Sell Val= Net Val
FII: Data N/A
DII: Data N/A
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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