Market Enters Positive Zone, Go Long At Dip Until Nifty Holds 10300
Last Trading Session: Indian Stock Market opened gap positive exactly as predicted by EquityPandit. EquityPandit predicted that market would see sharp recovery and exactly same happened. Nifty moved sharply positive and saw highs right at EquityPandit’s predicted resistance of 10437 like a dot. BankNifty also saw highs near EquityPandit’s predicted resistance of 24730. Finally, Indian Stock Market managed to close gap positive for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market, including Nifty, Sensex and BankNifty has entered into positive zone. Some profit booking can be seen but traders should go long at every dip in the market. Now Nifty has strong support at 10300 and traders can continue to hold long positions with closing stoploss of 10300 for Nifty.
FIIs were net buyers of Rs.374.65 crores whereas DIIs were net sellers of Rs.464.59 crores in cash market for last trading session. Nifty would see strong support at 10400-10340-10300 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: ANDHRABANK, BALRAMCHIN, BEML, DHFL, IDBI and JPASSOCIAT.
NSE Nifty: (10421) The support for the Nifty is 10400-10340-10300 and the resistance to the up move is at 10500-10560-10618-10700 levels.
NSE BankNifty: (24664) The support for BankNifty is at 24618-24536-24465-24400 and the resistance to the up move is at 24730-24880-25027 levels.
BSE Sensex: (33918) The support for the Sensex is at 33865-33745-33665-33575 and the resistance to the up move is at 34000-34078-34110-34240 levels.
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