Continue Long Until 10334 Holds For Nifty, Infosys Results Today
Last Trading Session: Indian Stock Market opened flat exactly as predicted by EquityPandit. EquityPandit predicted that market is loosing momentum but fresh positive momentum would be seen once Nifty breaches 10433 and exactly same happened. EquityPandit also suggested traders to continue long positions until Nifty holds 10303 levels. Market saw sharp breakout once Nifty breached 10433 levels exactly as predicted by EquityPandit. Traders, who followed EquityPandit’s advice to continue long positions might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone. Market would continue to see positive momentum and traders can continue to hold long positions until Nifty holds above 10334. Bulls would remain strong until Nifty holds above 10400 levels and traders need not to worry for their long positions until then. Now next logical target for Nifty is set to 10500-10562 where the next immediate resistances are placed. Though market is overstretched at this point of time but traders need to follow the trend. Infosys would disclose its Q4 results today and it would affect Indian Stock Market for the day.
FIIs were net buyers of Rs.368.90 crores whereas DIIs were net buyers of Rs.615.81 crores in cash market for last trading session. Nifty would see strong support at 10400-10380-10350-10300 whereas strong resistance would be seen 10500-10562-10632 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: BALRAMCHIN, IRB, JETAIRWAYS and JPASSOCIAT.
Companies To Disclose Its Q4 Results Today: Infosys
NSE Nifty: (10459) The support for the Nifty is 10400-10380-10350-10300 and the resistance to the up move is at 10500-10562-10632 levels.
NSE BankNifty: (25195) The support for BankNifty is at 24960-24820-24700-24618 and the resistance to the up move is at 25280-25345-25500-25722 levels.
BSE Sensex: (34101) The support for the Sensex is at 33920-33800-33660-33580 and the resistance to the up move is at 34170-34240-34351-34500 levels.
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