On Monday, market opened negative but latter attracted good buying in mostly all the indices and traded higher however during final hour of trading session market lost most of the gain and closed down flat. Auto and IT outperformed whereas Banks and Realty 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 index closed down in red whereas Small caps index closed up in green.
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 attract good buying.
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: 5947.05
Range: 5890-6000
Resistance: 5970-6000-6030
Support: 5915-5890-5860
Bank Nifty: 11267.10
Range: 11085-11415
Resistance: 11305-11385-11415
Support: 11195-11140-11085
Short term: Down (5970)
Medium term: Down (6065)
Long term: Up (5350)
Cash Market Trading Activity (Prov. Figure in Rs. Crores)
Cat: Buy Val - Sell Val= Net Val
FII: 2973.75-3083.28= -109.53
DII: 1161.90-1022.45= +139.45
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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