The American Markets have closed very strong. The Asian Indices are trading mixed. We can expect a positive opening for our markets today. The markets have a strong resistance at 6300 levels, which if breaced on the upside can take the Nifty to much higher levels. But,we could expect some volatility towards the close. Hence, we expect another flat closing for our markets today. We can see that the markets have closed at 6272 levels yesterday. We can also notice on the daily charts that the markets are trading very close to 6200 levels, which has been a strong support since the past few trading sessions. We can also observe that the markets are trading in a narrow range between 6170-6370 levels for the past few trading sessions. Therefore, we can expect our markets to consolidate for some more time in this band in the short term. Hence, the markets should consolidate in the 6200-6300 levels in the short term.

The BSE Auto Index closed at 5544 levels yesterday, which is (-0.90%), below its previous close. We can also notice that this index is currently trading very close to its short term support at 5500 levels. Hence, we expect the short term support at 5500 levels to be broken and the index should move lower to 5300 levels in the short term. We recommend a sell in Maruti and Amtek Auto in this sector.