Nifty Heading Towards Record Highs, Continue Long Until It Holds Above 11831
Last Trading Session: Indian Stock Market opened flat exactly as predicted by EquityPandit. EquityPandit predicted that market would see sideways movement but traders should continue to hold long positions until market holds above 11831 for Nifty and 29961 for BankNifty and exactly same happened. Market saw some profit booking as expected but saw lows right at EquityPandit’s predicted support levels of 11850 for Nifty and 40035 for Sensex like a dot. Market recovered sharply from there and saw highs right at EquityPandit’s predicted resistance of 40600 for Sensex. Traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market moved positive for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Sensex already at record highs whereas Nifty is heading towards record highs and hence traders should remain cautious at this point of time. Some profit booking cant be ruled out for now but traders should continue to hold long positions until market holds 11831 levels for Nifty and 29961 for BankNifty.
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FIIs were net buyers of Rs.1011.49 crores whereas DIIs were net sellers of Rs.1117.25 crores in cash market for last trading session. Nifty would see strong support at 11926-11900-11875-11850-11800 whereas strong resistance would be seen at 12000-12041-12083-12105 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Important Results To Be Disclosed Today: Adani Transmission, Aditya Birla Capital, Andhra Bank, Apar Industries, BASF India, BPCL, CIty Union Bank, DLF, eClerx Services, Engineers India, ERIS Lifesciences, GlaxoSmithkline Consumer Healthcare, Gujarat Alkalies & Chemicals, HPCL, Indostar Capital, Indraprastha Gas, Ipca Laboratories, Max India, Power Grid Corporation, Procter & Gamble Health, Solar Industries, Sun Pharma, Tamil Nadu Newspritn, Thomas Cook, Thyrocare Technologies, Trend, UCO Bank, United Breweries, UPL, VIP Industries, Whirlpool of India and Wockhardt Ltd.
NSE Nifty: (11966) The support for the Nifty is 11926-11900-11875-11850-11800 and the resistance to the up move is at 11955-11980-12041-12083 levels.
NSE BankNifty: (30610) The support for BankNifty is 30445-30350-30274-30110 and the resistance to the up move is 30660-30740-30800-30950 levels.
BSE Sensex: (40470) The support for the Sensex is 40365-40240-40110-40035 and the resistance to the up move is at 40600-40665-40740-70800 levels.
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