Market Still Bullish, Continue Long Until Nifty Holds Above 10920
Last Trading Session: Indian Stock Market opened flat with positive biased for the day. EquityPandit predicted that Indian Stock Market has entered into positive zone and its good time to accumulate discounted Midcaps. EquityPandit also predicted that traders should go long at every dip in the market and exactly same happened. Indian Stock Market moved sharply positive for the day and finally, managed to close gap positive for the day. Traders, who followed EquityPandit’s advice might have earned huge profits for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Now market would be considered bullish as long as market holds above 10920 for Nifty and 27272 for BankNifty. 11000 would act as immediate psychological support for Nifty and traders can continue to hold long positions for now. Market may see some profit booking but traders can go long at every dip in the market for now.
FIIs were net buyers of Rs.1130.78 crores whereas DIIs were net sellers of Rs.878.45 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: (11053) 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: (27626) The support for BankNifty is at 27500-27380-27172-27026 and the resistance to the up move is at 27661-27740-27780-27880-28000 levels.
BSE Sensex: (36636) The support for the Sensex is at 36525-36465-36320-36235 and the resistance to the up move is at 36780-36880-36950-37005 levels.
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