Strong Market breadth at NSE on expiry day - Religare

Nifty kept hovering around 6270-6290 levels for most part of the trading session. F&O expiry action was witnessed in the last half an hour of trade where first the index formed a new intraday high at 6301 level and then formed intraday low at 6259.75 levels. In a dull expiry trading session no sectorial index was able to make a mark with half of the indices closing in the green while the remaining positing nominal gains at NSE.

For the third consecutive trading session domestic benchmark failed to perform and formed indecisive candlestick on the daily chart. 6250-6350 is an important trading range, an either side break will dictate Nifty's move in the coming sessions. Strong market breadth at NSE in a dull trading session suggests that traders are betting in the favor of the bulls.

Source : Equity Bulls

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