Market To Consolidate, Initiate Long Only If Nifty Closes Above 10768
Last Trading Session: Indian Stock Market opened gap positive as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market would see a bounce if 10580 holds for Nifty and traders should go long at every dip in the market until Nifty holds above 10580 for Nifty. Indian Stock Market saw sharp positive rally exactly as predicted by EquityPandit. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day. Nifty closed right below EquityPandit’s predicted resistance levels of 10740 like a dot for Nifty.
Today: Indian Stock Market would open negative. Technically, market is still in negative zone. Market would enter into positive zone once it closes above 10768 for Nifty and 26971 for BankNifty. Traders can take long positions home if market manages to close above these levels but until then some profit booking can be seen and market would trade sideways in rangebound region.
FIIs were net buyers of Rs.713.47 crores whereas DIIs were net buyers of Rs.113.27 crores in cash market for last trading session. Nifty would see strong support at 10700-10675-10645-10600 whereas strong resistance would be seen 10780-10803-10820-10860-10880 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, IDBI, JETAIRWAYS, KSCL, PCJEWELLER, RELCAPITAL, RELINFRA and RPOWER.
Important Results To Be Disclosed Today: Bajaj Electricals Ltd and Jet Airways (India) Ltd.
NSE Nifty: (10735) The support for the Nifty is 10700-10675-10645-10600 and the resistance to the up move is at 10780-10803-10820-10860-10880 levels.
NSE BankNifty: (26956) The support for BankNifty is at 26830-26720-26600-26500 and the resistance to the up move is at 27005-27075-27205-27300 levels.
BSE Sensex: (35756) The support for the Sensex is at 35670-35585-35540-35500 and the resistance to the up move is at 35818-35880-35970-36067 levels.
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