Market To Remain Rangebound Until Geopolitical Tension Prevails
Last Trading Session: Indian Stock Market opened positive exactly as predicted by EquityPandit. EquityPandit predicted that market would see some recovery and traders can go long at dips until Nifty holds above 10726 and exactly same happened. Indian Stock Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 10930 for Nifty and 36380 for Sensex. India-Pak airstrike forced market to see sharp downfall from EquityPandit’s predicted resistance levels. Market fell sharply negative and saw lows right at EquityPandit’s predicted support levels of 10750 for Nifty like a dot. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Indian Stock Market would enter into negative zone only if it closes below 10726 for Nifty and 26794 for BankNifty. Upside is already capped whereas downside is witnessing supports at different levels. Market would continue to consolidate in this range for time being until geopolitical tensions exist.
FIIs were net buyers of Rs.423.04 crores whereas DIIs were net buyers of Rs.66.81 crores in cash market for last trading session. Nifty would see strong support at 10780-10750-10700-10675 whereas strong resistance would be seen 10860-10880-10930-10956 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 and RPOWER.
NSE Nifty: (10807) The support for the Nifty is 10780-10750-10700-10675 and the resistance to the up move is at 10860-10880-10930-10956 levels.
NSE BankNifty: (26799) The support for BankNifty is at 26720-26600-26575-26440 and the resistance to the up move is at 26940-27075-27103-27205 levels.
BSE Sensex: (35905) The support for the Sensex is at 35880-35830-35780-35670-35585 and the resistance to the up move is at 36067-36120-36278-36380 levels.
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