Yesterday we have seen a very volatile movement of our market. After opening on a subdued note, Nifty fell to make a low of 6039.75 and then it rose to make a high of 6128.65. At the end of day Nifty closed at 6121.60. It had a net gain of 49.95 points or 0.82% over the previous day’s close. On the sectoral front, Banking, Health care and Information technology stocks were on the buyers’ radar. However, selling was seen on Realty and Consumer durable stocks.
After opening at 6079.90, Nifty traded in the band of 6040 and 6100 maximum hours of yesterday’s trading session. However, a buying was seen towards the closing session and finally the bulls were able to manage Nifty above 6120. The short term crucial support of Nifty lies at 5930. If it breaches 5930, it may test the level of 5820. However, if it is able to maintain above 6230, it may go up to the
level of 6340
On an intra-day basis Nifty has a support at 6090 and is likely to face a stiff resistance near 6150. If Nifty breaks 6090, it may further go down to 6060 and then 6035. However, if Nifty is able to sustain above 6150, the level of 6185-6230 would become the next target. But still the recovery is not in sight. It may be just a bounce back rally. confirmation will come within 1 -2 trading session.

Buy AFL with SL of 56.50 cmp 58.20
Buy Infosys above 3040. SL 3030