Market To Consolidate Until BankNifty Closes Above 26500 Or Nifty Closes Below 10566
Last Trading Session: Indian Stock Market opened flat for the day as predicted by EquityPandit. EquityPandit predicted that market would see sideways movement and would consolidate in the range of 10600-10800 for Nifty and exactly same happened. Indian Stock Market opened flat for the day and consolidated for the whole day in EquityPandit’s predicted range. Sensex saw highs right at EquityPandit’s predicted resistance levels of 35580 like a dot. Market fell down from there and saw lows right at EquityPandit’s predicted support levels of 10600 for Nifty. Finally, Indian Stock Market closed negative for the day. Sensex closed right above EquityPandit’s predicted support levels of 35260 like a dot.
Today: Indian Stock Market would open flat. Technically, analysis would remain same. Nifty is still in positive zone but BankNifty is in negative zone. BankNifty would enter into positive zone once it closes above 35500 whereas Nifty would enter into negative zone if it closes below 10566 and until then market would remain directionless and would continue to consolidate. Traders should wait for confirmation and follow EquityPandit’s reversal levels to trade with the trend.
FIIs were net sellers of Rs.1205.12 crores whereas DIIs were net buyers of Rs.366.94 crores in cash market for last trading session. Nifty would see strong support at 10618-10600-10550 whereas strong resistance would be seen 10680-10705-10735-10780 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: (10657) The support for the Nifty is 10618-10600-10550 and the resistance to the up move is at 10680-10705-10735-10780 levels.
NSE BankNifty: (26230) The support for BankNifty is at 26180-26100-26078-26000 and the resistance to the up move is at 26325-26380-26450-26518 levels.
BSE Sensex: (35264) The support for the Sensex is at 35165-35070-35000-34970-34850 and the resistance to the up move is at 35303-35440-35507-35660 levels.
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