Continue Long Until Market Holds 10245 for Nifty And 25553 For BankNifty
Last Trading Session: Indian Stock Market opened gap positive as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market is still in positive trend and traders should hold long positions in the market and exactly same happened. Indian Stock Market moved sharply positive and saw highs right near EquityPandit’s predicted resistance levels of 10352 for Nifty. BankNifty also saw highs near EquityPandit’s predicted resistance levels of 25862. Finally, Indian Stock Market managed to close positive for the day.
Today: Indian Stock Market would open positive for the day. Technically, Indian Stock Market is still in positive zone. Analysis still remains same. Nifty saw strong resistance near EquityPandit’s predicted resistance levels and fell down to close near opening levels. Nifty formed DOJI Canlestick Pattern that suggest indecisiveness. Bears would take control below yesterday’s lows of 10315 and risk of some profit booking in upcoming sessions would prevail in that that case. Market would enter into negative zone once market closes below 10245 for Nifty and 25553 for BankNifty on spot basis. Traders can continue to hold long positions until market holds above 10245 levels for Nifty and 25553 levels for BankNifty. Closing below these levels would confirm a sharp downfall in the market but until then traders can continue to hold long positions for further gains.
FIIs were net sellers of Rs.727.01 crores whereas DIIs were net buyers of Rs.825.50 crores in cash market for last trading session. Nifty would see strong support at 10310-10270-10232-10200 whereas strong resistance would be seen at 10352-10386-10400-10440 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, DLF, HDIL, ICIL, INFIBEAM, JISLJALEQS, JSWENERGY, JPASSOCIAT, JUSTDIAL, KSCL, RCOM, RELCAPITAL,TV18BRDCST and WOCKPHARMA.
NSE Nifty: (10327) The support for the Nifty is 10310-10270-10232-10200 and the resistance to the up move is at 10352-10386-10400-10440 levels.
NSE BankNifty: (25758) The support for BankNifty is at 25693-25598-25500-25400 and the resistance to the up move is at 25862-25925-26000-26060 levels.
BSE Sensex: (33478) The support for the Sensex is at 33435-33340-33290-33200 and the resistance to the up move is at 33560-33652-33735-33865 levels.
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