On Tuesday, market opened higher and traded in the narrow range during first hour of the trading session however latter market attract good buying in almost all the indices and closed up in green with good gains. Metals and Consumer Durable outperformed whereas Auto and FMCG under performed. Overall it was the volatile trading session. Volume for the day was slightly lower then previous trading session. Market breadth was positive. Midcap index closed up 1.5% and Small caps index closed up 1.6%.
For the day, the level of 5915 and 5890 may act as a major support for the market and the level of 5970 and 6000 may act as a major hurdle. Market may remain highly volatile.
Short term trend will turn positive above the level of 5970.
"Spot Levels" Day trader can go long on nifty above 5970 with stop loss 5940 for target 6000 / 6030 and can go short below 5915 with stop loss 5945 for target 5890 / 5860.
Index Range
Nifty: 5944.10
Range: 5890-6000
Resistance: 5970-6000-6030
Support: 5915-5890-5860
Bank Nifty: 11560.50
Range: 11400-11735
Resistance: 11625-11680-11735
Support: 114515-11460-111400
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: 2512.96-2479.43= +33.53
DII: 1072.90-723.73= +349.17
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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