Nifty Still Bearish But Go Long Near Support For Intraday With Stoploss Below 11000
Last Trading Session: Indian Stock Market opened positive exactly as predicted. EquityPandit predicted that Nifty is still consolidating but Intraday traders can go long at support with stoploss below 11000 and exactly same happened. Indian Stock Market opened positive went down sharply near EquityPandit’s predicted support levels and from where Nifty moved sharply positive upto EquityPandit’s predicted resistance levels of 11237 like a dot. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, market would not able to breach EquityPandit’s predicted resistance levels and fell down sharply from there to close in red. BankNifty saw lows right at EquityPandit’s predicted support levels of 27565 like a dot and rebounded from there to close in positive.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in negative zone. Analysis would still remain same. The strategy is to go long at support levels with stoploss below 11000 levels for Nifty and book profits near resistance levels. Overall market is still bearish and would still consolidate in a rangebound region and would see sideways movement.
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FIIs were net sellers of Rs.494.21 crores whereas DIIs were net buyers of Rs.904.82 crores in cash market for last trading session. Nifty would see strong support at 11100-11085-11024-11000 whereas strong resistance would be seen at 11148-11181-11215-11237-11265 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (11126) The support for the Nifty is 11100-11085-11024-11000 and the resistance to the up move is at 11148-11181-11215-11237-11265 levels.
NSE BankNifty: (27768) The support for BankNifty is 27635-27565-27450-27340 and the resistance to the up move is 27880-28000-28035-28145 levels.
BSE Sensex: (37532) The support for the Sensex is 37430-37340-37290 and the resistance to the up move is at 37680-37755-37880-37940 levels.
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