Market Positive Until Nifty Holds Above 10764, Continue Long Positions For Now
Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that market would see some profit booking but market would be considered bearish only if Nifty closes below 10764 and until then it would be bullish and exactly same happened. Indian Stock Market moved sharply negative and saw lows right at EquityPandit’s predicted support levels of 10812 like a dot. Market recovered from there and saw highs right near EquityPandit’s predicted resistance levels of 10922 for Nifty. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market would open flat with positive bias. Technically, Indian Stock Market is still in positive zone. Market is bullish as of now and would continue to see positive momentum until it holds above 10764 levels for Nifty and 26853 levels for BankNifty. Though Indian Market wold see some consolidation between 10800-11000 levels but traders can continue to hold long positions for now.
FIIs were net sellers of Rs.112.13 crores whereas DIIs were net sellers of Rs.65.22 crores in cash market for last trading session. Nifty would see strong support at 10863-10812-10749 whereas strong resistance would be seen 10945-10980-11005-11027 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: DHFL and IDBI.
Important Results To Be Disclosed Today: Aditya Birla Capital, Apollo Tyres, Bharat Heavy Electricals, Birla Corporation, Blue Star, Bombay Dyeing, Century Plyboards, Dish TV India, GAIL, HPCL, IDFC First Bank, Inox Leisure, Jai Corp, Mangalore Refinery & Petrochemicals, Marico, PNB, Reliance Infrastrusture, Sobha, Suven Life Sciences, Symphony, Tata Chemicals, Tata Global Beverages, Tech Mahindra, Trent, Tube Investments and V-Mart Retail Ltd.
NSE Nifty: (10912) The support for the Nifty is 10863-10812-10749 and the resistance to the up move is at 10945-10980-11005-11027 levels.
NSE BankNifty: (27187) The support for BankNifty is at 27026-26988-26865-26800 and the resistance to the up move is at 27380-27456-27500-27600 levels.
BSE Sensex: (36583) The support for the Sensex is at 36425-36320-36235-36100 and the resistance to the up move is at 36660-36780-36880-36946 levels.
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