Market To Consolidate, Initiate Long Only If Nifty Closes Above 11453
Last Trading Session: Indian Stock Market opened negative exactly as predicted. EquityPandit predicted that traders can go short at every positive rally until Nifty holds below 11453 and exactly same happened. EquityPandit also predicted that traders, who went short on EquityPandit’s suggestions would get good profits in last trading session and exactly same happened. Indian Stock Market moved positive but saw strong resistance near EquityPandit’s predicted reversal levels of 11453 like a dot. Market fell down sharply from there and saw strong support near EquityPandit’s predicted support levels of 11360 for Nifty and 37640 for Sensex. Traders, who followed EquityPandit’s suggestions to go short at rally might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in negative zone. Now market would consolidate in a rangebound region. Market would see some positive movement as US and China to resume trade talks but traders should initiate fresh long positions only if Nifty closes above 11453 and until then traders can continue to hold short positions in the market. 11500 would act as strong resistance for Nifty breaching which Nifty would see sharp positive rallies whereas market would see sharp downfall if Nifty manages to breach 11340 with volumes.
FIIs were net sellers of Rs.825.08 crores whereas DIIs were net buyers of Rs.133.78 crores in cash market for last trading session. Nifty would see strong support at 11340-11300-11260-11230 whereas strong resistance would be seen 11409-11445-11470-11500 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: ADANIENT, ADANIPOWER, JETAIRWAYS and JISJALEQS.
NSE Nifty: (11385) The support for the Nifty is 11340-11300-11260-11230 and the resistance to the up move is at 11409-11445-11470-11500 levels.
NSE BankNifty: (27827) The support for BankNifty is at 27690-27565-27450-27340 and the resistance to the up move is at 27880-28000-27075-28275 levels.
BSE Sensex: (37664) The support for the Sensex is at 37550-37430-37340-37290 and the resistance to the up move is at 37740-37880-38000-38075 levels.
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