On Thursday, market opened higher but continue third day of profit booking with selling across all the indices and close down in red. Buying interest was seen in IT whereas Banks, Realty, Auto and Capital Goods remain under heavy selling pressure. Volume for the day was slightly 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 6015 and 5985 may act as a major support for the market and the level of 6070 and 6100 may act as a major hurdle. Market may attract buying, buying may be seen in Banks & IT.
Short term trend will turn positive above the level of 6060.
"Spot Levels" Day trader can go long on nifty above 6070 with stop loss 6040 for target 6100 / 6125 and can go short below 6015 with stop loss 6045 for target 5985 / 5960.
Index Range
Nifty: 6048.25
Range: 5985-6100
Resistance: 6070-6100-6125
Support: 6015-5985-5960
Bank Nifty: 11186.80
Range: 10980-11370
Resistance: 11260-11315-11370
Support: 11090-11035-10980
Short term: Down (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: 3274.86-3660.49= -385.63
DII: 1240.16-1578.21= -338.05
All Above Spot Levels
OM SHRI GANESHAYA NAMAH
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