On Tuesday, market opened higher and traded in the range thru out the day however market faced profit booking during final hour of trading session and close down in red. Major buying interest was seen in FMCG and Oil & Gas whereas Banks and Realty attract selling pressure. Volume for the day was higher then previous trading session. Market breadth was negative. Midcap index and Small caps index closed down in red.
For the day, the level of 6125 and 6095 may act as a major support for the market and the level of 6155 and 6180 may act as a major hurdle.
Short term trend will turn negative below the level of 6060.
"Spot Levels" Day trader can go long on nifty above 6155 with stop loss 6125 for target 6180 / 6210 and can go short below 6125 with stop loss 6155 for target 6095 / 6070.
Index Range
Nifty: 6146.35
Range: 6095-6180
Resistance: 6155-6180-6210
Support: 6125-6095-6070
Bank Nifty: 11564.00
Range: 11395-11730
Resistance: 11620-11675-11730
Support: 11505-11450-11395
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: 3381.89-2664.13= +717.76
DII: 1474.07-1965.64= -491.57
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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