For the third time since the start of 2008, Nifty is flirting with the 6300 levels. Unable to sustain at higher levels nifty oct fut tumbled down putting a break to the bull run of past few trading sessions, Q2 results of major banks such as HDFC, ICICI Kotak Mahindra made market swing between gains and losses. Towards the end nifty closed in red down by 1.11%

Nifty futures was volatile  in the weekly trading session and managed to close below 6200  mark down  by  69.45 points from the previous week's close. Technically, index is having resistance at the mark of  6300 and is likely to continue its up rally in the near term with the cracking of the same.

For downside, major support is at the level of 6120 and 6000.

Stocks to watch on:

IDFC FUT-  The Stock is in recovery phase, It has recently given inverse HNS breakout and is sustaining above its 10 and 50 days moving average and is consolidating with positive sentiments. Its major resistance level that it can test is 106.15. One can take long position in IDFC fut above 106.15 for tgts of 109.90 & 115

FRL FUT-  Technically, the stock is trading with negative sentiments  above its 10 and 50 MA on daily charts and is sustaining below its falling trendline , its major support level is at 74.60 one can take fresh short positions below the level of 74.60 for the targets of 68 & 63