Continue Long At Dips Until Nifty Holds 10252 Spot Levels On Closing Basis
Last Trading Session: Indian Stock Market opened gap positive as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market is still in positive zone and traders should continue long positions until market holds 10245 for Nifty and 25553 levels for BankNifty. EquityPandit also predicted that Nifty would see immediate support at 10310 and exactly same happened. Indian Stock Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 33652 for Sensex like a dot. Market saw sharp downfall from EquityPandit’s predicted resistance levels and fell down sharply to EquityPandit’s predicted support levels of 10310 like a dot. Finally, Indian Stock Market recovered sharply to close marginally positive for the day. Sensex also closed right near EquityPandit’s predicted resistance levels of 33560 like a dot.
Today: Indian Stock Market would open flat with positive bias. Technically, Indian Stock Market is still in positive zone. Nifty has formed another DOJI candlestick pattern for the second day in a row. Market is still indecisive but traders can hold long until Nifty closes above 10300 levels for Nifty. Market would enter into negative zone only if it closes below 10252 for Nifty and 25553 levels for BankNifty. Traders can continue to hold long positions in the market for now and should initiate short positions only if Nifty closes below 10252 levels on spot basis.
FIIs were net sellers of Rs.441.46 crores whereas DIIs were net buyers of Rs.837.22 crores in cash market for last trading session. Nifty would see strong support at 10300-10260-10232-10200 whereas strong resistance would be seen at 10360-10386-10400-10440 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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Stocks In F&O Ban Period: DHFL, DLF, HDIL, ICIL, INFIBEAM, JISLJALEQS, JSWENERGY, JPASSOCIAT, JUSTDIAL, RCOM, TV18BRDCST and WOCKPHARMA.
NSE Nifty: (10342) The support for the Nifty is 10300-10270-10232-10200 and the resistance to the up move is at 10360-10386-10400-10440 levels.
NSE BankNifty: (25767) The support for BankNifty is at 25665-25598-25500-25400 and the resistance to the up move is at 25862-25925-26000-26060 levels.
BSE Sensex: (33562) The support for the Sensex is at 33435-33340-33290-33200 and the resistance to the up move is at 33652-33735-33865 levels.
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