Market In Vacation Mood, Nifty Breakout Only If It Closes Above 10500
Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that Indian Stock Market is still in positive zone and traders should continue to hold long positions until Nifty holds above 10400 and exactly same happened. Indian Stock Market moved sharply positive and saw highs right near Equitypandit’s predicted resistance levels of 10500 for Nifty like a dot. Finally, Indian Stock Market managed to close gap positive for the day. Indian Stock Market made new record highs as predicted by EquityPandit. Sensex closed right at EquityPandit’s predicted resistance levels of 33940 like a dot.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Now, we are into Christmas Holiday week and we would see market to consolidate during the period. Volumes would be considerably low. 10500 is acting as important resistance levels on closing basis and breaching above these levels would induce further positive momentum in the market. Market would see breakout if it closes above 10500 levels for Nifty on spot basis. Traders can continue to hold long positions until Nifty holds above 10400 levels on closing basis.
FIIs were net buyers of Rs.107.87 crores whereas DIIs were net buyers of Rs.371.53 crores in cash market for last trading session. Nifty would see strong support at 10440-10400-10360-10300 whereas strong resistance would be seen at 10515-10535-10565-10610 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: BALRAMCHIN, DHFL, DLF, FORTIS, GMRINFRA, IFCI, JPASSOCIAT, RCOM and WOCKPHARMA.
NSE Nifty: (10493) The support for the Nifty is 10440-10400-10360-10300 and the resistance to the up move is at 10515-10535-10565-10610 levels.
NSE BankNifty: (25649) The support for BankNifty is at 25500-25400-25318 and the resistance to the up move is at 25862-25925-26000-26060 levels.
BSE Sensex: (33940) The support for the Sensex is at 33865-33745-33665-33575 and the resistance to the up move is at 34000-34078-34110-34240 levels.
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