FM Nirmala Sitharaman To Present Her First Budget Today, Hold Long Positions For Now
Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that market is still in positive zone and traders should continue to hold long positions until Nifty holds above 11812 and exactly same happened. Market moved sharply positive and saw highs right near EquityPandit’s predicted resistance levels of 11675 levesl for the day. Finally, Indian Stock Market closed positive for the day. BankNifty closed right at EquityPandit’s predicted resistance levels of 31500 like a dot.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Today is the D-day when Nirmala Sitharaman would present her first Budget. Market would see reversal only if it closes below 11851 for Nifty and 31200 for BankNifty. Until then market would be considered positive and traders can continue to hold long positions in the market. Nifty and BankNifty are expected to see lifetime highs and traders should hold long positions for now. Market may close flat for the day but strong support would be seen around 11850 for Nifty.
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FIIs were net sellers of Rs.28.95 crores whereas DIIs were net buyers of Rs.58.59 crores in cash market for last trading session. Nifty would see strong support at 11900-11870-11850-11800 whereas strong resistance would be seen 11975-12041-12083-12110 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Stocks In F&O Ban Period: DHFL and RELCAPITAL.
NSE Nifty: (11947) The support for the Nifty is 11900-11870-11850-11800 and the resistance to the up move is at 11975-12041-12083-12110 levels.
NSE BankNifty: (31499) The support for BankNifty is at 31380-31340-31270-31110 and the resistance to the up move is at 31660-31750-31800-31940 levels.
BSE Sensex: (39908) The support for the Sensex is at 39850-39740-39660-39620 and the resistance to the up move is at 40035-40110-40240-40380 levels.
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