Nifty To See Further Positive Rally, Next Target At 11265-11400 Until 11085 Holds
Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that Market is still in positive zone and initiate fresh short positions only if Nifty closes below 10950 but until then go long at dips and exactly same happened. Indian Stock Market saw sharp positive rally for the day. Nifty saw highs right below EquityPandit’s predicted resistance levels of 11185 like a dot. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone. Indian Stock Market would continue to see positive movement. Market has taken an Ascending Triangle pattern breakout and now if market continues to hold above 11085 for Nifty then we would see sharp positive rally that may be extended till 11265-11400 levels for Nifty. EquityPandit suggested traders to initiate long positions on February 21, 2019 when Nifty closed above 10768 and now its whopping 400 points profits for Nifty. Traders should still sit in the right direction of the trend and should continue to hold long positions for now.
FIIs were net buyers of Rs.3810.60 crores whereas DIIs were net sellers of Rs.1955.55 crores in cash market for last trading session. Nifty would see strong support at 11125-11100-11085-11024 whereas strong resistance would be seen 11215-11237-11265-11285-11325 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, JETAIRWAYS, RELINFRA and RPOWER.
NSE Nifty: (11168) The support for the Nifty is 11125-11100-11085-11024 and the resistance to the up move is at 11215-11237-11265-11285-11325 levels.
NSE BankNifty: (27967) The support for BankNifty is at 27840-27760-27690 and the resistance to the up move is at 28075-28275-28360 levels.
BSE Sensex: (37054) The support for the Sensex is at 36950-36850-36814-36770 and the resistance to the up move is at 37110-37270-37368-37500 levels.
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