Today the only disappointing thing was that Intraday Nifty looses it positive ness in late market hours but as i discussed earlier also tht closing of intraday Nifty above 5900 levels is the important thing. As Nifty is maintaining its 5900 levels on closing basis is still a positive sign. Today Nifty makes a high of 6023 tht i aso predict in pre market report that Nifty gives a rally upto 6025 and the nex barrier for Nifty call will be 6070 levels. So as per technical point of view there is no need to worry about Nifty.
Intraday Stock Call can give a minor support at 5940 levels.
On the other side Bank Nifty also closes below 11650 as i discussed earlier that for the upside movement in banking sector Bank Nifty has to maintain 11650 on closing basis. Today in early Stock market hours Bank Nifty had shown a good strength and Stock trading above 11650 levels but later on it lost all its strength and dips below 11650 and from there onwards it dips to 200 points.
On part of IT pack ....after a continues upside rally for pas couple of trading sessions took a pause and closed in red zone including Infosys and TCS as mentioned in morning report.
13 counters out of 20 IT counters closes in red and the rest 7 in green. But out of seven counters four counters shown some good strenght and closes above 2% upmove .Mindtree(2.83%),CMC(2.31%),Tulip(2.18%),Core project(2.05%).Out of which CMC and Core project closes near there 52 weeks high.
Intraday Nifty Midcap 50 also looses its strength in late Stock market and out of 50 counters only 17 counters were able to closes in green and 32 counters in red while HCC remain unchange. If tomorrow Nifty Midcap able to sustain above 2865 then we may see a rally of 20-25 points in it but it has to sustain above 2890 for good upmove.
Overall, if we see the daily charts of past 5 trading sessions of Nifty it gave a breakout on 5980 levels on 21 december and from there the target of Nifty should be at 6070 levels.So according to charts Nifty support levels are support1 5956 and support 2 will be 5934.And the ressistance will be 6008 including todays Intraday trading session.