Market To See Some Recovery, Continue Long Until Nifty Holds Above 10726
Last Trading Session: Indian Stock Market opened gap negative for the day. Market sharply went down after a surprise air strike by IAF on Pakistan terror camps. Market recovered from lows but finally, managed to close negative for the day.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market including Nifty, Sensex and BankNifty are still in positive zone. India’s reaction was already discounted in the market and market was choppy since last few days. But now it looks like market would see some positive movement and some relief rally would be seen in the market. Traders can go long at dips or hold long positions until market holds above 10726 for Nifty and 26794 for BankNifty on closing basis.
FIIs were net buyers of Rs.1674.17 crores whereas DIIs were net sellers of Rs.720.27 crores in cash market for last trading session. Nifty would see strong support at 10803-10750-10700-10675 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, IDBI, JETAIRWAYS and RPOWER.
Important Results To Disclosed Today: Merck Ltd, Rain Industries Ltd.
NSE Nifty: (10835) The support for the Nifty is 10803-10750-10700-10675 and the resistance to the up move is at 10860-10880-10930-10956 levels.
NSE BankNifty: (26953) The support for BankNifty is at 26940-26830-26720-26600 and the resistance to the up move is at 27103-27205-27300-27340 levels.
BSE Sensex: (35974) 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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