Market To See Profit Booking, Bullish Only If BankNifty Closes Above 27132
Last Trading Session: Indian Stock Market opened positive exactly as predicted by EquityPandit. EquityPandit predicted that traders can continue to hold long positions until Nifty holds above 10726 by closing and exactly same happened. Indian Stock Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 10880 for Nifty and 27075 for BankNifty like a dot. Finally, Indian Stock Market managed to close gap positive for the day. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Sensex closed right below EquityPandit’s predicted resistance levels of 36067 like a dot.
Today: Indian Stock Market would open gap negative. Technically, analysis would remain same. Nifty is still in positive zone whereas BankNifty is in negative zone. Market would enter into bearish zone once Nifty closes below 10736 whereas market would be considered bullish as a whole only if BankNifty manages to close above 27132. Once BankNifty closes above 27132 then market would see sharp positive rally but until then market would consolidate in a range bound region.
FIIs were net buyers of Rs.198.38 crores whereas DIIs were net buyers of Rs.117.05 crores in cash market for last trading session. Nifty would see strong support at 10820-10780-10750-10700 whereas strong resistance would be seen 10887-10938-10985-11000 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Click Here to Check the Trend Of Major Indices and Stocks
Stocks In F&O Ban Period: NIL.
NSE Nifty: (10864) The support for the Nifty is 10820-10780-10750-10700 and the resistance to the up move is at 10887-10938-10985-11000 levels.
NSE BankNifty: (27044) The support for BankNifty is at 26925-26870-26720-26600 and the resistance to the up move is at 27075-27103-27205-27340 levels.
BSE Sensex: (36064) The support for the Sensex is at 35950-35830-35780-35670 and the resistance to the up move is at 36120-36278-36375 levels.
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