Market Still Bullish, Hold Long Until Nifty Holds Above 10800
Last Trading Session: Indian Stock Market opened negative as predicted by EquityPandit. EquityPandit predicted that Market would see profit booking but Nifty possess strong support at 10800 and would be considered strong until 10800 holds. EquityPandit also predicted that traders can go long at dips until Nifty holds above 10800 levels and exactly same happened. Indian Stock Market fell down sharply after opening but managed to hold above 10800 levels and recovered sharply from there. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Market saw highs right below EquityPandit’s predicted resistance levels of 10812 for Nifty and 36380 for Sensex. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone. Market would continue to see positive momentum and would remain bullish until 10800 holds for Nifty. Traders can continue to hold long positions with stoploss below 10800 on spot basis for Nifty. Overall, market is positive and traders should continue to hold long positions in the market.
FIIs were net buyers of Rs.144.76 crores whereas DIIs were net sellers of Rs.182.6 crores in cash market for last trading session. Nifty would see strong support at 10840-10800-10749-10700 whereas strong resistance would be seen 10945-11000-11025-11078 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: (10909) The support for the Nifty is 10840-10800-10749-10700 and the resistance to the up move is at 10945-11000-11025-11078 levels.
NSE BankNifty: (27175) The support for BankNifty is at 27045-26955-26865-26800 and the resistance to the up move is at 27240-27380-27456-27600 levels.
BSE Sensex: (36347) The support for the Sensex is at 36227-36100-36065-35950 and the resistance to the up move is at 36465-36540-36600-36660 levels.
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