Some Profit Booking Expected But Continue Long Until Nifty Holds 10081 By Closing
Last Trading Session: Indian Stock Market opened gap positive as per EquityPandit’s predictions. EquityPandit predicted that Nifty would open near Record Highs and traders should continue long positions for Targets of 10150-10200 levels for Nifty in upcoming days and exactly same happened. Nifty hit record highs while opening tick as per EquityPandit’s predictions. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market to open flat. Technically, Indian Stock Market is still in positive zone. Nifty hit record highs in last trading session leaving a gap in the trend and hence some profit booking can’t be ruled out at this point of time but market would still remain bullish until it trades above 10135 levels for Nifty. Traders can continue to hold long positions until Market holds 10081 spot levels for Nifty and 24823 spot levels for BankNifty on closing basis. Next logical target for Nifty is set to 10200 levels on spot basis. Overall, market is bullish and traders can continue to hold long positions for now.
FIIs were net sellers of Rs.96.92 crores whereas DIIs were net buyers of Rs.775.61 crores in cash market for last trading session. Nifty would see strong support at 10135-10116-10081-10050 whereas strong resistance would be seen at 10188-10205-10218-10235 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Click Here to Check the Trend Of Major Indices and Stocks
Stocks In F&O Ban Period: DHFL, HDIL, IBREALEST, INFIBEAM, JPASSOCIAT, JSWENERGY, JUSTDIAL and WOCKPHARMA
NSE Nifty: (10153) The support for the Nifty is 10135-10116-10081-10050 and the resistance to the up move is at 10188-10205-10218-10235 levels.
NSE BankNifty: (25047) The support for BankNifty is at 24940-24815-24737 and the resistance to the up move is at 25080-25188-25240-25340 levels.
BSE Sensex: (32424) The support for the Sensex is at 32360-32238-32130-32082 and the resistance to the up move is at 32450-32546-32636-32688 levels.
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