Market To See Positive Rally But Initiate Long Only If Nifty Closes Above 10931
Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that market would open positive but selling would be seen on every positive movement and exactly same happened. Indian Stock Market opened positive and saw sharp selling as predicted by EquityPandit. Nifty saw lows right at EquityPandit’s predicted support levels of 10800 like a dot. Finally, Indian Stock Market recovered from day lows and managed to close flat for the day.
Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market is still in negative zone but market would see some recovery. Overall market would consolidate in a rangebound region. Market would be considered weak until it trades below 10931 for Nifty and 27467 for BankNifty but once it closes above those levels then market would see sharp breakout on the positive side.
FIIs were net sellers of Rs.94.45 crores whereas DIIs were net buyers of Rs.389.96 crores in cash market for last trading session. Nifty would see strong support at 10800-10749-10700-10675 whereas strong resistance would be seen 10900-10922-10945-10982 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 Results To Be Disclosed Today: DHFL, GRUH Finance, GSFC, Indian Bank, Indian Overseas Bank, L&T, M&M Financial Services, Maruti Suzuki, Nilkamal, Shriram City Union Finance and Sundaram Clayton.
NSE Nifty: (10850) The support for the Nifty is 10800-10749-10700-10675 and the resistance to the up move is at 10900-10922-10945-10982 levels.
NSE BankNifty: (27266) The support for BankNifty is at 27172-27026-26988-26865 and the resistance to the up move is at 27380-27456-27500-27600 levels.
BSE Sensex: (36195) The support for the Sensex is at 36065-35950-35880-35774 and the resistance to the up move is at 36270-36380-36465-36540 levels.
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