Nifty Forms DOJI Pattern, Continue Long With Stoploss Of 10556 By Closing
Last Trading Session: Indian Stock Market opened positive for the day exactly as predicted by EquityPandit. Indian Stock Market moved sharply positive but saw strong resistance right at Equitypandit’s predicted resistance levels of 10652 and moved sharply negative to see lows right near EquityPandit’s predicted support levels of 10598 for Nifty. Finally, Indian Stock Market closed flat with positive bias for the day.
Today: Indian Stock Market would open flat. Indian Stock Market is still in positive zone. Technically, analysis would remain same. Market would continue to see positive momentum until it holds above 10556 levels for Nifty and 25528 levels for BankNifty. Traders are still suggested to hold long positions until market manages to hold these levels on closing basis. Market is waiting for BankNifty to perform to take further breakout. Though market is in positive momentum but it has seen a DOJI pattern yesterday, so traders should remain cautious and close all long positions if Nifty closes below 10556. But until then, traders can continue to hold long positions in the market.
FIIs were net seller of Rs.303.94 crores whereas DIIs were net buyers of Rs.522.90 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.
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Stocks In F&O Ban Period: FORTIS, GMRINFRA, HDIL, IFCI, JINDALSTEL, JISLJALEQS, JPASSOCIAT, RCOM, RELCAPITAL and WOCKPHARMA.
NSE Nifty: (10637) 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: (25704) The support for BankNifty is at 25600-25556-25500-25400 and the resistance to the up move is at 25772-25862-25925-26000 levels.
BSE Sensex: (34443) The support for the Sensex is at 34300-34216-34066 and the resistance to the up move is at 34488-34516-34660 levels.
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