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Market News:

*  Airfloa Ltd received new order worth of INR 37.88 lakhs form office of the SMM, BGC Depot situated in Ajmer.

*  The US Dollar Index slipped 0.07% to 98.27, while the euro, pound and yen edged up 0.09%, 0.05% and 0.05% respectively.

*  Dev IT secured order worth of INR 96 lakh from Ahmedabad Urban Development Authority.

Technical Summary:

The index opened on a muted note and drifted lower below the prior day’s low, signaling weak early sentiment. However, the index recovered from the intraday low of 26,067, indicating buying interest at lower levels. On the daily chart, the formation of a Doji candlestick reflects a lack of clear directional bias and ongoing indecision among market participants. On the sectoral front, IT and Consumer Durables emerged as the top gainers, while Auto and Realty stocks underperformed and ended the session as the key laggards.

Levels to watch:

The Nifty has its crucial resistance 26250 (Pivot Level) and 26373 (Key Resistance). While support on the downside is placed at 26000 (Multiple Touches) and 25900 (Key Support).

What should short term traders expect?

The Index can long above 26250 for the potential target of 26373 the stop loss of 26170 level.

Technical Data Points

NIFTY SPOT: 26143.5 (-0.13%)

TRADING ZONE:

Resistance: 26250 (Pivot Level) and 26373 (Key Resistance)

Support: 26000 (Multiple Touches) and 25900 (Key Support).

STRATEGY: Bullish till above 25900(Key Support)

BANK NIFTY SPOT: 59981 (-0.23%)

TRADING ZONE:

Resistance: 60300 (Pivot Level) / 60600 (Key Resistance)

Support: 59700 (Pivot Level) / 59300 (Key Support)

STRATEGY: Bullish till above 59300 (Key Support)

SEBI Registration number is INH000000081.

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