Nifty may move in a range between 5960 and 6040 - Religare

Markets opened on a flat note and gradually declined in first half as some profit-taking was witnessed in index heavyweights; but second half was characterized by impressive recovery as benchmark indices ended the day in positive zone. Market breadth remained in negative territory and volumes were on par with recent average levels.

BSE Realty index was top gaining index in today's trade followed by FMCG and Healthcare while BSE Consumer Durables, Metals and Capital Goods remained underperforming indices. Nifty has tested gap levels around 5964 and a bounce has been witnessed from those levels.

Going into next session, stock-specific action is expected to continue while Nifty may move in a range between 5960 and 6040. Break from this range would be necessary to show any directional move.

Source : Equity Bulls

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