On Monday, market opened on positive node and traded higher in the range thru out the day; however market failed to hold major gains of the day in final hour of trading session but manage to close up in green. Major buying interest was seen in Metals whereas IT and Auto attract selling pressure. Volume for the day was lower then previous trading session. Market breadth was positive. Midcap index and Small caps index closed up in green.
For the day, the level of 6125 and 6095 may act as a major support for the market and the level of 6180 and 6210 may act as a major hurdle. Market may attract buying.
Short term trend will turn negative below the level of 6060.
"Spot Levels" Day trader can go long on nifty above 6180 with stop loss 6150 for target 6210 / 6135 and can go short below 6125 with stop loss 6155 for target 6095 / 6070.
Index Range
Nifty: 6157.60
Range: 6095-6210
Resistance: 6180-6210-6235
Support: 6125-6095-6070
Bank Nifty: 11855.80
Range: 11670-12015
Resistance: 11890-11945-12015
Support: 11780-11725-11670
Short term: Up (6060)
Medium term: Up (5970)
Long term: Up (5350)
Cash Market Trading Activity (Prov. Figure in Rs. Crores)
Cat: Buy Val - Sell Val= Net Val
FII: 1516.59-1175.62= +340.97
DII: 1044.56-1168.57= -124.01
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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