Market To Enter In Positive Zone, Initiate Long Positions
Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that traders should book profits in all short positions as Nifty is near its major support and their is high chance of a positive bounce from here. EquityPandit also predicted that a sharp positive bounce in BankNifty can’t be ruled out at this point of time and exactly same happened. Indian Stock Market moved sharply positive as per EquityPandit’s predictions. BankNifty also saw sharp positive bounce backed with PSU banks. Nifty saw highs right at EquityPandit’s predicted resistance levels of 10230 like a dot. Finally, Indian Stock Market managed to close gap positive for the day.
Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market would enter into positive zone once it breaches 10230 for Nifty and 25511 levels for BankNifty. Bulls took the control from day lows in last trading session and pushed the index towards EquityPandit’s predicted resistance levels of 10230 like a dot. Now, if Nifty manages to trade above 10175 then next target for Nifty is set to 10270-10300-10330 levels. Overall, traders should intiate fresh long positions with stoploss of 10175 for Nifty and can take long positions home if Market manages to close above 10230 for Nifty and 25511 levels for BankNifty spot levels. BankNifty is fairly stronger and if managed to close above 25511 then next target is set to 25800-26000 in days to come on spot basis.
FIIs were net sellers of Rs.447.42 crores whereas DIIs were net buyers of Rs.847.45 crores in cash market for last trading session. Nifty would see strong support at 10175-10120-10080 whereas strong resistance would be seen at 10230-10252-10283-10300 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, INDIACEM, INFIBEAM, JETAIRWAYS, JSWENERGY, JPASSOCIAT, KSCL, RCOM and RELCAPITAL.
NSE Nifty: (10215) The support for the Nifty is 10175-10120-10080 and the resistance to the up move is at 10283-10300-10335-10400 levels.
NSE BankNifty: (25447) The support for BankNifty is at 25400-25327-25250-25165 and the resistance to the up move is at 25500-25560-25695-25800-26000 levels.
BSE Sensex: (33107) The support for the Sensex is at 33000-32945-32860-32800 and the resistance to the up move is at 33275-33380-33417-33480-33560 levels.
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