The Nifty is broadly range bound between 5,840 and 5,930, it keeps consolidating between this range and we see stock specific action in the midcap or certain sector specific stocks. The Nifty is correcting slowly and buying is coming in at lower levels, hence until we are above 5,840 traders should have a positive bias, as I said on all declines the market is being bought into and on the weekly time frame the markets are looking very bullish.
Nifty Future remained in a narrow trading band of 20-30 points and finally closed at 5,889.35 with a small black body candle. It is trying to find a base around 5,860 level and on the flip side it is facing tough resistance on the rise in the band of 5,930 level.
The Sensex has supports at 19,190 and 19,080 and resistances at 19,350 and 19,480. The Nifty spot has supports at 5,838 and 5,800 and resistances at 5,885 and 5,925.
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