Market At All Time High, Hold Long With Stoploss Of 10676 For Nifty By Closing
Last Trading Session: Indian Stock Market opened gap positive exactly as predicted by EquityPandit. EquityPandit predicted that market would see further positive rally and next target for Nifty is set to 10740-10800. EquityPandit also suggested traders to hold long positions for now and exactly same happened. Nifty achieved EquityPandit’s target of 10740 and made high of 10780 levels. Market moved sharply positive for the day and made new lifetime highs today. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Though, BankNifty has formed a strong positive candle that suggest bullishness but Nifty has formed SHOOTING STAR candlestick pattern that suggest that consolidation or reversal can be seen here and some bearish signals can be seen if Nifty closes below 10713 levels. But traders should continue to hold long positions until Nifty closes below 10676 levels on closing basis.
FIIs were net buyers of Rs.32.92 crores whereas DIIs were net sellers of Rs.173.28 crores in cash market for last trading session. Nifty would see strong support at 10712-10700-10675-10645 whereas strong resistance would be seen at 10800-10840-10880 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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Important Q3 Results To Be Disclosed Today: MCX, Network 18 Media, TV18 Broadcast.
NSE Nifty: (10742) The support for the Nifty is 10712-10700-10675-10645 and the resistance to the up move is at 10800-10840-10880 levels.
NSE BankNifty: (26069) The support for BankNifty is at 25998-25940-25850-25770 and the resistance to the up move is at 26160-26200-26270-26380 levels.
BSE Sensex: (34844) The support for the Sensex is at 34750-34685-34500-34428 and the resistance to the up move is at 34880-34965-35000-35067 levels.
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