On Tuesday, market opened on positive node and traded in the narrow range thru out the day and closed down flat in red. FMGC, IT and Pharma attract buying whereas Oil & Gas, Auto, Capital Goods and Banks traded week. Overall it was slightly volatile trading session. Volume for the day was lower then previous trading session. Market breadth was negative. 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 6050 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 6025 with stop loss 5995 for target 6050 / 6080 and can go short below 5965 with stop loss 5995 for target 5940 / 5910.
Index Range
Nifty: 5996
Range: 5940-6050
Resistance: 6025-6050-6080
Support: 5965-5940-5910
Bank Nifty: 11427.30
Range: 11230-11630
Resistance: 11515-11570-11630
Support: 11350-11290-11230
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: 1328.12-1219.09= +109.03
DII: 716.35 - 981.71= -265.36
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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