On Tuesday, market opened positive and moved higher thru out the day with good buying in almost all the indices however during final hour of session market became slightly volatile and closed up in green. Metals and bank outperformed whereas IT under performed. Volume for the day was higher then previous trading session. Market breadth was positive. Midcap index and Small caps index closed up in green.
For the day, the level of 5965 and 5940 may act as a major support for the market and the level of 6025 and 6055 may act as a major hurdle.
Medium term trend will turn positive above the level of 6065.
"Spot Levels" Day trader can go long on nifty above 6025 with stop loss 5995 for target 6055 / 6080 and can go short below 5965 with stop loss 5995 for target 5940 / 5910.
Index Range
Nifty: 6000.65
Range: 5940-6055
Resistance: 6025-6055-6080
Support: 5965-5940-5910
Bank Nifty: 11537.30
Range: 11360-11745
Resistance: 11630-11690-11745
Support: 11465-11410-11360
Short term: Up (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: 2850.75-2885.54= -34.79
DII: 1631.12-1257.45= +373.67
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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