On Wednesday, market opened lower and continue second day of profit booking and close down in red. Major buying interest was seen in FMCG and IT whereas Banks and Realty remain under selling pressure however Auto also faced selling pressure. Volume for the day was 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 6045 and 6015 may act as a major support for the market and the level of 6100 and 6125 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 6100 with stop loss 6070 for target 6125 / 6155 and can go short below 6045 with stop loss 6075 for target 6015 / 5990.
Index Range
Nifty: 6079.80
Range: 6015-6125
Resistance: 6100-6125-6155
Support: 6045-6015-5990
Bank Nifty: 11305.45
Range: 11030-11580
Resistance: 11360-11470-11580
Support: 11250-11140-11030
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: 3245.55-3485.85= -240.30
DII: 1349.98-1451.73= -101.75
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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