Daily Technical Analysis

Nifty — The index opened on a flat note and saw range-bound movement throughout the day’s trading session. It ended the day with a gain of 11 points.

Range-bound trading — The index exhibited range-bound trading in the 6111- 6060 band throughout the day’s trading session. On the upside, index faces resistance around yesterday’s high at 6111. Intra-day strength can be expected above the 6111 level and index could test 6185 levels on the upside. On the downside, intra-day support is around 6060, and a break below the 6060 level could see the index drift down intra day. Lower support levels are 6040-6000.

Conclusion — Trade a breakout from the 6111-6060 range intra day.