Nifty opened on a negative note and fell below 6300 mark but it took support at 6280. In the last half an hour of trade it bounced back sharply and ended at 6307 with a loss of 0.39%. The Advance Decline ratio was almost 2:3.

Nifty has almost filled the Monday's Gap (6275) and corrected 50% of its recent upmove from 6149 to 6415. Now if it breaks 6275 then it has next support at 6251, which is its 61.80% retracement level. We maintain bullish view with our next target of 6710 thus we feel this correction is a good buying opportunity.  On the downside now 6149 will play as an important support for immediate term, however short term support remains at 5950.