Market Still Bullish, Continue Long Positions Until Nifty Holds Above 12182
Last Trading Session: Indian Stock Market opened positive exactly as predicted by EquityPandit. EquityPandit predicted that market is still in positive zone and traders should continue to hold long positions until Nifty holds above 12129 levels and exactly same happened. Indian Stock Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 12228 like a dot. Finally Indian Stock Market closed gap positive for the day. BankNifty closed right below EquityPandit’s predicted resistance levels of 32180 like a dot.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone. Analysis would remain same. Market would enter into negative zone only if it closes below 12182 for Nifty and 31678 for BankNifty. Market would now consolidate for few days and then would take a fresh new move. For now, market is bullish and traders should continue to hold long positions until market holds above these reversal levels.
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FIIs were net buyers of Rs.68.24 crores whereas DIIs were net buyers of Rs.47.17 crores in cash market for last trading session. Nifty would see strong support at 12300-12284-12230-12200 whereas strong resistance would be seen at 12380-12440-12500 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (12330) The support for the Nifty is 12300-12284-12230-12200 and the resistance to the up move is at 12380-12440-12500 levels.
NSE BankNifty: (32178) The support for BankNifty is 32075-32035-31975-31820 and the resistance to the up move is 32240-32365-32500 levels.
BSE Sensex: (41860) The support for the Sensex is 41720-41650-41600-41518 and the resistance to the up move is at 41945-42035-42110-42240 levels.
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