Market To Consolidate Until BankNifty closes above 30500 But Hold Long For Now
Last Trading Session: Indian Stock Market opened positive for the day as predicted. EquityPandit predicted that market is heading towards record highs and traders should continue to hold long position in the market. Market moved sharply positive and Sensex saw record highs for the day as predicted by EquityPandit. Traders, who followed EquityPandit advice might have earned huge profits for the day. Finally, Indian Stock Market managed to close positive for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Indian Stock Market would be considered bullish until it holds above 11837 for Nifty and 29961 for BankNifty. Though market would see some consolidation-cum-profit booking until BankNifty closes above 30500 but still traders are advice to hold long positions for now.
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FIIs were net sellers of Rs.138.53 crores whereas DIIs were net sellers of Rs.500.24 crores in cash market for last trading session. Nifty would see strong support at 11900-11870-11850-11800 whereas strong resistance would be seen at 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.
Important Results To Be Disclosed Today: Ajanta Pharma, Apollo Tyres, Berger Paints India, Birla Corporation, Cholamandalam Investment, Dabur India, Divis Laboratories, EIH, GE T&D India, Gillette India, Godrej Properties, Greaves Cotton, Grindwell Norton, Gujarat Gas, Gujarat Narmada Valley Fertilizers, Jindal Steel & Power, NCC, Prism Johnson, P&G Hygiene, PNB, REC, Redignton India, Star Cement, Tech Mahindra, Titan Company and Torrent Power Ltd.
NSE Nifty: (11941) 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: (30333) The support for BankNifty is 30240-30140-30025 and the resistance to the up move is 30465-30515-30660-30700 levels.
BSE Sensex: (40302) The support for the Sensex is 40110-40035-40000-39940 and the resistance to the up move is at 40380-40500-40600-40665 levels.
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