Market are very volatile, after openwith a good note and strong bullishness in front line stocks i.e. out of 51, almost 43 are positive side, but due to geographical news market reacted sharply and almost all gains loss and closed with a negative bias but managed to hold above 9100 mark time being. Now, we may consider short term resistance 9250-9300 only above think to buy side otherwise avoid trading in Index and concentrate stock specify. On the lower side support which is weak likely 9100, trading below some more weakness which is likely towards 9000 mark.
Bank Nifty also looking some selling pressure at higher level, after made a high of nearly 22000. Now Bank Nifty still looks bullish as and when hold 21400-21450 mark.
CNX IT - are continue bearish and finally yesterday it was closed below 10000 mark and near to long term support 9900, once break these level, over all selling in IT stocks. Likely continue towards 9500 9300.
PSU Bank Stocks. Still holding some range 3500 to 3600, break out these range will move one side.
Metal stocks looks bearish and more selling likely in Tata Steel, Hindalco, and VEDL.
Have Happy Trading.
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