On Thursday, market opened on positive node and traded in the narrow range thru out the day and closed down flat in red. Pharma and IT attract buying whereas Metals, Auto and Capital Goods traded week. Overall it was the volatile trading session. Volume for the day was much lower then previous trading session. Market breadth was negative. Midcap index 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 5995 and 6025 may act as a major hurdle. Market may attract buying.
Medium term trend will turn positive above the level of 6065.
"Spot Levels" Day trader can go long on nifty above 5995 with stop loss 5965 for target 6025 / 6055 and can go short below 5965 with stop loss 5995 for target 5940 / 5910.
Index Range
Nifty: 5980
Range: 5940-6025
Resistance: 5995-6025-6055
Support: 5965-5940-5910
Bank Nifty: 11469
Range: 11290-11625
Resistance: 11515-11570-11625
Support: 11405-11350-11290
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: 1490.30-1633.40= -143.10
DII: 893.35 - 981.98= -88.63
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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