Today it was anti-climax kind of day, nifty gapped up and traded steady, look like it will cross 16800 which was the key resistance. It traded positive for most of the part of day but something broke today at 2:15 pm and there was surprise downward move.
In 1 hour Nifty went down close to 135 points ultimately closing 0.26% lower.
Banknifty was even more bearish that also gapped up but close about 1% lower.
IT was the only major sector that supported, major It stocks were slightly up and reliance is the biggest supporter of index today up around 2.3%, that also close at it’s high.
CEMENTS was the biggest draw down and the big stocks like Ultratech, Grasim, Shree cement they falls between 4%- 6% down.
Advance decline ratio was negative.
All and all a disheartening day for bulls and but bulls are certainly not down because most of the indicators are either neutral or positive.
Levels for Tomorrow (6 June 2022)
Nifty= Support 16400- Resistance 16800
Banknifty= Support 35000- Resitance 36000