Nifty Still In Positive Trend, Continue Long Until 10532 Holds By Closing
Last Trading Session: Indian Stock Market opened positive for the day. Last week, EquityPandit predicted that market is still in positive zone and near its reversal levels but there is strong chance of a bounce back from here and exactly same happened. Indian Stock Market bounced sharply from EquityPandit’s predicted support levels and managed to see record highs yesterday. 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 would continue to see positive momentum until it holds above 10532 levels for Nifty and 25512 levels for BankNifty. Traders are still suggested to hold long positions until market manages to hold these levels on closing basis. Now, if Nifty needs to move further positive, then BankNifty needs to perform, else Nifty would see resistance near 10700 levels.
FIIs were net buyers of Rs.692.83 crores whereas DIIs were net sellers of Rs.206.3 crores in cash market for last trading session. Nifty would see strong support at 10598-10558-10520 whereas strong resistance would be seen at 10652-10680-10705-10718 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, GMRINFRA, HDIL, IFCI, JINDALSTEL, JISLJALEQS, JPASSOCIAT, RCOM, RELCAPITAL and WOCKPHARMA.
NSE Nifty: (10624) The support for the Nifty is 10598-10558-10520 and the resistance to the up move is at 10652-10680-10705-10718 levels.
NSE BankNifty: (25676) The support for BankNifty is at 25500-25400-25318 and the resistance to the up move is at 25772-25862-25925-26000 levels.
BSE Sensex: (34353) The support for the Sensex is at 34300-34216-34066 and the resistance to the up move is at 34380-34452-34516-34660 levels.
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