Continue Long Positions Until Nifty Holds Above 10800
Last Trading Session: Indian Stock Market opened flat for the day. Market consolidated for the whole day. Last week, EquityPandit predicted that market is still in positive trend and suggested to hold long positions and exactly same happened. Indian Stock Market consolidated and was positively biased for the whole week. Market saw highs right near EquityPandit’s predicted resistance levels of 10922 for Nifty and 36465 for Sensex. Finally, Indian Stock Market closed flat for the day. BankNifty closed right above EquityPandit’s predicted support levels of 27450 like a dot.
Today: Indian Stock Market would open positive. Technically, Nifty is still in positive zone whereas BankNifty is in negative zone. BankNifty would enter into positive zone once it closes above 27585 levels on spot basis. Traders can continue to hold long positions for now until Nifty holds above 10800 levels. Market would see sharp positive breakout once Nifty breaches 11000 and BankNifty closes above 27585 levels.
FIIs were net sellers of Rs.124.91 crores whereas DIIs were net sellers of Rs.0.97 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: ADANIPOWER and JETAIRWAYS.
Important Results To Be Disclosed Today: Coromandel International, GHCL, Hindustan Zinc, Housing & Urban Development Corporation, Just Dial, Kotak Mahindra Bank, L&T Finance Holdings, Supreme Petrochem, Union Bank Of India and Zensar Technologies.
NSE Nifty: (10907) 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: (27457) The support for BankNifty is at 27380-27172-27026 and the resistance to the up move is at 27580-27661-27740-27780-27880 levels.
BSE Sensex: (36387) 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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