Market To See Profit Booking But Hold Long Until Nifty Holds Above 10450
Last Trading Session: Indian Stock Market opened gap positive as predicted by EquityPandit. EquityPandit predicted that Market would see further positive rally and traders can continue to hold long positions until Nifty holds above 10223. EquityPandit also predicted that Next logical target is at 10500 for Nifty and 25675 for BankNifty and exactly same happened. Indian Stock Market moved sharply positive as predicted by EquityPandit and achieved EquityPandit’s targets of 10500 for Nifty and 25675 for BankNifty. Market moved sharply positive after breaching the targets. 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 negative. Technically, Indian Stock Market is still in positive zone. Now, market may see some profit booking but the trend is positive. Some correction would be seen but traders should continue to hold long positions in the market. If market managed to hold above 10450 for Nifty then Next logical target is 10700 for Nifty and 26000 for BankNifty. Until then market may see some consolidation with profit booking but traders should continue to hold long positions for now.
FIIs were net sellers of Rs.196.90 crores whereas DIIs were net buyers of Rs.852.99 crores in cash market for last trading session. Nifty would see strong support at 10500-10450-10400-10380 whereas strong resistance would be seen 10632-10662-10705-10765 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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Important Quarterly Results To Be Declared Today: Aditya Birla Capital, Dr. Lal Pathlabs, Graphite India, Manappuram Finance and Volatas Ltd.
Stocks In F&O Ban Period: NIL.
NSE Nifty: (10553) The support for the Nifty is 10500-10450-10400-10380 and the resistance to the up move is at 10632-10662-10705-10765 levels.
NSE BankNifty: (25702) The support for BankNifty is 25580-25500-25450-25400-25318 and the resistance to the up move is at 25862-25940-26075-26206 levels.
BSE Sensex: (35012) The support for the Sensex is at 34940-34820-34740-34610 and the resistance to the up move is at 35185-35240-35303-35460 levels.
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