Market Still In Positive Momentum, Continue Long Until Nifty Holds Above 11500
Last Trading Session: Indian Stock Market opened gap positive exactly as predicted. EquityPandit predicted that Indian Stock Market would see positive breakout. EquityPandit suggested traders to go long at every dip in the market and also predicted that Nifty would breach important psychological resistance of 11500 and exactly same happened. Indian Stock Market moved sharply positive breaching 11500 for Nifty. Indian Stock Market saw record highs in last trading session. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day. BankNifty closed right at EquityPandit’s predicted resistance of 28275 like a dot.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Now, 11500 would act as immediate support for Nifty. Traders can hold long positions in the market until Nifty holds above 11500 levels. Some Profit booking would be seen at higher levels but market would enter into negative zone only if it closes below 11452 levels for Nifty and 27974 levels for BankNifty. Traders should not initiate any short positions until market closes below these levels.
FIIs were net sellers of Rs.483.04 crores whereas DIIs were net buyers of Rs.593.22 crores in cash market for last trading session. Nifty would see strong support at 11530-11500-11470-11430 whereas strong resistance would be seen 11600-11660 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: ADANIPOWER, JISJALEQS and RAYMOND.
NSE Nifty: (11552) The support for the Nifty is 11530-11500-11470-11430 and the resistance to the up move is at 11600-11660 levels.
NSE BankNifty: (28274) The support for BankNifty is at 28145-28075-28000-27960 and the resistance to the up move is at 28330-28375-28440-28500 levels.
BSE Sensex: (38279) The support for the Sensex is at 38200-38045-38000-37865 and the resistance to the up move is at 38380-38450-38500-38540 levels.
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