Continue To Hold Long Positions Until Nifty Holds Above 10241
Last Trading Session: Indian Stock Market opened negative for the day. EquityPandit predicted that Indian Stock Market is still in positive zone and traders can go long until Nifty holds 10241 for Nifty and 25191 levels for BankNifty on closing basis. EquityPandit also predicted that until market closes below these levels, traders should hold long at this point of time and exactly same happened. Indian Stock Market moved sharply positive on BJP win. Nifty saw highs right at EquityPandit’s predicted resistance levels of 10440 like a dot. 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. Market is still in positive momentum. BJP victory in Gujarat and Himachal Pradesh would continue to induce positive momentum in the market. Some Profit booking can be seen at higher levels but traders should continue to hold long positions in the market and every dip would be an opportunity for traders to go long in the market. Market would continue to see new record highs in day to come.
FIIs were net sellers of Rs.431.77 crores whereas DIIs were net sellers of Rs.1076.81 crores in cash market for last trading session. Nifty would see strong support at 10360-10300-10260 whereas strong resistance would be seen at 10452-10490-10505-10535 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: FORTIS, HDIL, JISLJALEQS, JPASSOCIAT, JSWENERGY, TV18BRDCST and WOCKPHARMA.
NSE Nifty: (10389) The support for the Nifty is 10360-10300-10260 and the resistance to the up move is at 10452-10490-10505-10535levels.
NSE BankNifty: (25595) The support for BankNifty is at 25500-25400-25327-25250 and the resistance to the up move is at 25695-25862-25925-26000 levels.
BSE Sensex: (33602) The support for the Sensex is at 33575-33500-33435-33340 and the resistance to the up move is at 33745-33865-33940 levels.
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