Nifty To See Sharp Downfall If 10795 Breaches Whereas Recovery Would Be Seen Above 10885
Last Trading Session: Indian Stock Market opened positive as predicted. EquityPandit predicted that Indian Stock Market has entered into negative zone but would see positive reaction after sharp downfall a day earlier. EquityPandit also suggested traders to go short at every positive rally and exactly same happened. Nifty moved sharply positive and saw highs right near EquityPandit’s predicted support levels of 10880 and fell down from there. Finally, Indian Stock Market closed marginally positive just below EquityPandit’s predicted resistance levels of 10842 for Nifty like a dot.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in negative zone for now. Market would continue to consolidate for now. Market would see sharp downfall if it breaches levels of 10795 for Nifty whereas breaching levels of 10885 would force market to see some recovery. Overall, market would remain rangebound until any of these two levels are breached. Once these levels are breached, traders can take trade in that direction for intraday.
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FIIs were net sellers of Rs.959.09 crores whereas DIIs were net buyers of Rs.780.45 crores in cash market for last trading session. Nifty would see strong support at 10785-10730-10685-10640 whereas strong resistance would be seen at 10885-10920-10975 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: NIL.
NSE Nifty: (10841) The support for the Nifty is 10785-10730-10685-10640 and the resistance to the up move is at 10885-10920-10975 levels.
NSE BankNifty: (27173) The support for BankNifty is 27026-26988-26865-26800 and the resistance to the up move is 27380-27456-27500-27600 levels.
BSE Sensex: (36564) The support for the Sensex is 36422-36320-36240-36100 and the resistance to the up move is at 36605-36712-36780-36880 levels.
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