Profit Booking To Be Seen But Nifty Strong Until 10800 Holds
Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market is bullish above 10840 and would see sharp positive rally once it breaches 10840 levels and exactly same happened. Indian Stock Market breached 10840 in initial trade and saw highs of 10900 after that. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day. Sensex also closed right below EquityPandit’s predicted resistance levels of 36275.
Today: Indian Stock Market would open negative. Technically, Indian Stock Market is still in positive zone and market would remain rangebound. 10800 would act as immediate support and 10749 would act as strong support for Nifty. Now on the positive side 10922-10945 would act as immediate resistance zone whereas 11025 would act as strong resistance for Nifty. Market would continue to trade in this range for upcoming sessions. Breaching any of the immediate support or resistance levels would force market to move sharply in that direction. Market may see some profit booking and traders should remain cautious but can hold long positions or buy at dips until Nifty holds above 10800 levels.
FIIs were net sellers of Rs.60.95 crores whereas DIIs were net sellers of Rs.76.84 crores in cash market for last trading session. Nifty would see strong support at 10840-10800-10749-10700 whereas strong resistance would be seen 10922-10945-11000-11025 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 RELCAPITAL.
NSE Nifty: (10888) The support for the Nifty is 10840-10800-10749-10700 and the resistance to the up move is at 10922-10945-11000-11025 levels.
NSE BankNifty: (27016) The support for BankNifty is at 26955-26865-26800-26685 and the resistance to the up move is at 27075-27165-27240-27380 levels.
BSE Sensex: (36270) The support for the Sensex is at 36227-36100-36065-35950 and the resistance to the up move is at 36380-36465-36540-36600 levels.
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