Market To Consolidate But Still In Positive Trend, Hold Long Positions For Now
Last Trading Session: Indian Stock Market opened gap positive exactly as predicted by EquityPandit. EquityPandit predicted that market would see sharp recovery led by BankNifty and exactly same happened. Indian Stock Market opened positive, consolidated for the whole day and moved sharply positive in the end of the trading session. Traders who followed EquityPandit’s advice might have earned whopping profits for the day. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Market may see some profit booking after a sharp positive movement in the last trading session. But overall, market is in positive trend and traders should continue to hold long positions for now. Market would enter into negative zone only if it closes below 10583 for Nifty and 26345 for BankNifty, which is far from the current levels. Market would continue to see positive movement in upcoming days and traders can hold long positions. 10700 would act as immediate support for Nifty, below which market would enter into consolidation zone. Nifty would be considered bullish until it holds above 10700 levels.
FIIs were net sellers of Rs.15.31 crores whereas DIIs were net sellers of Rs.266.02 crores in cash market for last trading session. Nifty would see strong support at 10700-10675-10645-10600 whereas strong resistance would be seen 10780-10805-10840-10880 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: NIL.
NSE Nifty: (10736) The support for the Nifty is 10700-10675-10645-10600 and the resistance to the up move is at 10780-10805-10840-10880 levels.
NSE BankNifty: (26956) The support for BankNifty is at 26800-26685-26620-26500 and the resistance to the up move is at 27075-27180-27240-27380-27470 levels.
BSE Sensex: (35322) The support for the Sensex is at 35130-35070-35000-34970-34850 and the resistance to the up move is at 35440-35507-35660-35827 levels.
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