Continue Long Until Market Holds 10167 For Nifty And 21128 For BankNifty By Closing
Last Trading Session: Indian Stock Market opened negative as predicted. EquityPandit predicted that market would see some profit booking but traders should intiate fresh short positions only if Nifty closes below 10166 and until then traders should continue to hold long positions and exactly same happened. Indian Stock Market moved sharply negative but recovered from lows. Finally, Indian Stock Market closed gap negative for the day. Market closed right above EquityPandit’s predicted support levels of 21350 for BankNifty and 10310 for Nifty like a dot.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in the positive zone. Analysis still remains the same. The reversal levels for Nifty is 10167 spot levels and 21128 for BankNifty. Market would be considered positive and strong until it holds above these levels on closing basis. Traders should initiate fresh short only if market closes below these levels but until then traders should continue to hold long positions in the market.
Check the Trend Of Major Indices and Stocks
FIIs were net sellers of Rs.1937.06 crores whereas DIIs were net buyers of Rs.1036.13 crores in the cash market for the last trading session. Nifty would see strong support at 10270-10235-10165-10120 whereas strong resistance would be seen at 10396-10458-10505-10545 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
Important Results To Be Disclosed Today: APL Apollo Tubes, Cera Sanityware, Deepak Fertilizers, Future Consumer, Garware Technical Fibres, Godfrey Phillips India, IFB Industries, La Opala RG Ltd, Mishra Dhatu, NBCC, New India Assurance Company, ONGC, Rajesh Exports, Rites, Solar Industries India, SAIL, Tamil Nadu Newsprint & Papers, Uflex and Vodafone Idea Ltd.
NSE Nifty: (10312) The support for the Nifty 10270-10235-10165-10120 and the resistance to the up move is at 10396-10458-10505-10545.
NSE BankNifty: (21359) The support for BankNifty is 21350-21065-20878-20745-20620 and the resistance to the up move is 21715-21862-22000-22385 levels.
BSE Sensex: (34962) The support for the Sensex 34910-34780-34695-34540 and the resistance to the up move is at 35270-35480-35670-35880 levels.
Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at firstname.lastname@example.org or call our Executive at 08000816688.
Premium Subscription Pricing details can be seen at Stock Market Premium Services