Market Still In Positive Trend, Some Consolidation Near 9000 for Nifty
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive. EquityPandit predicted that Indian Stock Market is still in positive trend and traders should hold long positions. EquityPandit also predicted that once BankNifty futures breaches 20000 levels, we would see sharp positive movement in BankNifty and exactly same happened. Indian Stock Market moved sharply positive and managed to close above 8900 for Nifty. Traders who followed EquityPandit’s advice might have earned whopping profits for the day. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone. Now market is near 9000 levels and traders should be bit cautious at this level. We may see some consolidation or correction before further positive movement. Overall market would remain positive and once Nifty breaches levels of 9000, we would see levels for 9100 in a jiffy and would see new lifetime highs. But some correction is very much possible around 9000 levels.
FIIs were net buyers of Rs.1438.72 crores whereas DIIs were net sellers of Rs.268.21 crores in cash market for last trading session. Nifty would see strong support at 8900-8848-8800-8765 whereas strong resistance would be seen at 8972-9008-9065-9120 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
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Important Q1 Results To Be Disclosed Today: Alstom T&D, BHEL, GAIL, ONGC, Solar Industries and SpiceJet.
NSE Nifty: (8943) The support for the Nifty is 8900-8848-8800-8765 and the resistance to the up move is at 8972-9008-9065-9120 levels.
NSE BankNifty: (20426) The support for BankNifty is at 20220-20060-19950 and the resistance to the up move is at 20542-20609-20720-20900levels.
BSE Sensex: (28978) The support for the Sensex is at 28825-28716-28650-28420 and the resistance to the up move is at 29070-29264-29408-29560 levels.
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