Market is Sell On Rally Until Nifty Closes Above 10585
Last Trading Session: Indian Stock Market opened flat for the day. Market moved sharply positive but was not able to sustain at higher levels and fell down. Nifty closed below EquityPandit’s predicted reversal levels and hence entered into negative zone. Finally, Indian Stock Marekt closed gap negative for the day.
Today: Indian Stock Market would open negative. Technically, Nifty and BankNifty entered into negative zone. Though BJP has set a historic win in Tripura Election but market still needs to close above 10585 for Nifty and 25399 for BankNifty to enter into positive zone. Closing below 10300 for Nifty would force market to see a sharp downfall. For now, market is sell on every positive rally until Nifty closes above 10585.
FIIs were net buyers of Rs.241.85 crores whereas DIIs were net sellers of Rs.3.29 crores in cash market for last trading session. Nifty would see strong support at 10400-10300 whereas strong resistance would be seen 10500-10560-10618-10700 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, HDIL, IDBI and ORIENTBANK.
NSE Nifty: (10458) The support for the Nifty is 10400-10300 and the resistance to the up move is at 10500-10560-10618-10700 levels.
NSE BankNifty: (24903) The support for BankNifty is at 24850-24778-24615-24500 and the resistance to the up move is at 25150-25220-25300-25380 levels.
BSE Sensex: (34047) The support for the Sensex is at 34000-33850-34700-34650 and the resistance to the up move is at 34300-34351-34475-34535 levels.
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