Market To See Some Profit Booking But Go Long At Dips Until Nifty Above 10950
Last Trading Session: Indian Stock Market opened flat with positive biased for the day. EquityPandit predicted that market is still bullish and traders can continue to hold long positions or can go long at every dip in the market until Nifty holds above 10920 and exactly same happened. Indian Stock Market saw some profit booking as predicted but recovered sharply from there and finally managed to close positive for the day. Traders who followed EquityPandit’s advice to go long at dips might have earned whopping profits for the day.
Today: Indian Stock Market would open negative. Technically, analysis would remain same. Indian Stock Market is still in positive zone. Market is witnessing some resistance at 11100 and would see some profit booking but would enter into negative zone only if it closes below 10950 for Nifty and 27361 for BankNifty. 11000 is important psychological support for Nifty below which some nervousness would be seen among bulls but until then market would be considered positive and traders can continue to go long at dips in the market.
FIIs were net buyers of Rs.1137.85 crores whereas DIIs were net sellers of Rs.925.46 crores in cash market for last trading session. Nifty would see strong support at 11000-10965-10920-10900 whereas strong resistance would be seen 11078-11118-11157-11185 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: IDBI, RPOWER and WOCKPHARMA.
NSE Nifty: (11058) The support for the Nifty is 11000-10965-10920-10900 and the resistance to the up move is at 11078-11118-11157-11185 levels.
NSE BankNifty: (27765) The support for BankNifty is at 27660-27560-27500-27380 and the resistance to the up move is at 27815-27880-28000 levels.
BSE Sensex: (36725) The support for the Sensex is at 36590-36525-36465-36320 and the resistance to the up move is at 36780-36880-36950-37005 levels.
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