Some Consolidation Expected But Traders Should Still Go Long At Dips
Last Trading Session: Indian Stock Market opened positive for the day as predicted by EquityPandit. EquityPandit predicted that market is still in positive zone and traders should continue to go long at every dip in the market and exactly same happened. Indian Stock Market moved sharply positive and moved towards EquityPandit’s predicted targets of 11760 for Nifty. Finally, Indian Stock Market managed to close positive for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is sill in positive zone. Analysis would remain same. Market is still bullish but some profit booking can’t be ruled out. Nifty needs to breach levels of 11740 to see further positive movement. Traders can go long at dips until market holds above 11780 for Nifty and 30011 for BankNifty. If Nifty manages to hold above 11580 levels then next logical target would be 11760-11800-11880 for Nifty.
FIIs were net buyers of Rs.543.36 crores whereas DIIs were net sellers of Rs.437.7 crores in cash market for last trading session. Nifty would see strong support at 11630-11600-11570-11498 whereas strong resistance would be seen 11760-11800 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: ADANIPOWER, IDBI and RPOWER.
NSE Nifty: (11713) The support for the Nifty is 11630-11600-11570-11498 and the resistance to the up move is at 11760-11800 levels.
NSE BankNifty: (30354) The support for BankNifty is at 30274-30168-30083-30025 and the resistance to the up move is at 30500-30660-30740-30800 levels.
BSE Sensex: (39057) The support for the Sensex is at 38998-38940-38800-38747-38700 and the resistance to the up move is at 39115-39240-39380 levels.
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