Nifty To See Positive Rally Only If It Closes Above 10226 Until Then Sell At Rally
Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that market to consolidate and a bounce back would be seen in the market from the current levels. EquityPandit also suggested traders to sell on positive rally until Nifty holds 10226 on closing basis and exactly same happened. Indian Stock Market moved sharply positive as predicted by EquityPandit. Nifty saw highs right at EquityPandit’s predicted resistance levels of 10226 like a dot. BankNifty also saw highs right at EquityPandit’s predicted resistance levels of 24462 like a dot. Finally, Indian Stock Market fell down from its highs and traders who followed EquityPandit’s advice might have generated huge profits in both upmove and downfall from the highs in last trading session. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in negative zone. Analysis would remain same. Once Nifty closes above 10226, traders can close all short positions and initiate fresh long positions but until then traders can continue to go short at every positive rally. Overall, market would consolidate in the March month due to financial year closing. Downfall is limited for the March month. Once Nifty closes above 10226, we may see further positive rally but until then market would continue to consolidate. Further downfall would only be seen if Nifty breaches 10132 levels with volumes.
FIIs were net buyers of Rs.98.44 crores whereas DIIs were net buyers of Rs.197.78 crores in cash market for last trading session. Nifty would see strong support at 10132-10090-10047-10020 whereas strong resistance would be seen 10226-10275-10309 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: HDIL, IDBI, IFCI, JINDALSTEL, JPASSOCIAT, RCOM and SAIL.
NSE Nifty: (10155) The support for the Nifty is 10132-10090-10047-10020 and the resistance to the up move is at 10226-10275-10309 levels.
NSE BankNifty: (24256) The support for BankNifty is at 24130-24075-24000-23947 and the resistance to the up move is at 24350-24422-24462 levels.
BSE Sensex: (33136) The support for the Sensex is at 33070-32914-32800-32670 and the resistance to the up move is at 33240-33345-33420-33506 levels.
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