Market In Positive Zone Until It Holds Above 11905 For Nifty And 30922 For BankNifty
Last Trading Session: Indian Stock Market opened flat for the day. Indian Stock Market saw highs right near EquityPandit’s predicted resistance levels of 11960 for Nifty. Market was not able to sustain at higher levels and fell down sharply. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market would open flat with positive bias. Technically, both Nifty and BankNifty is in positive zone for now. Market is just near make or break level and we would continue to see the consolidation. Market would enter into negative zone once it closes below 11905 for Nifty and 30922 levels for BankNifty. If this happens then traders can close all long positions and initiate fresh short position but until then traders can continue to hold long positions and go long at dips.
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FIIs were net buyers of Rs.305.72 crores whereas DIIs were net sellers of Rs.177.37 crores in cash market for last trading session. Nifty would see strong support at 11865-11830-11800-11748 whereas strong resistance would be seen at 11960-12041-12083 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (11914) The support for the Nifty is 11865-11830-11800-11748 and the resistance to the up move is at 11960-12041-12083 levels.
NSE BankNifty: (31112) The support for BankNifty is 31025-30920-30865-30815 and the resistance to the up move is 31169-31270-31340-31405-31455 levels.
BSE Sensex: (40359) The support for the Sensex is 40275-40110-40035-40000 and the resistance to the up move is at 40415-40500-40600-40750 levels.
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