Indian Market To Ease Down But Still Bullish Until 11886 Holds For Nifty
Last Trading Session: Indian Stock Market opened gap positive as predicted by EquityPandit. EquityPandit suggested that Nifty has entered into a positive zone and traders can continue to hold long positions for now and exactly the same happened. Indian Stock market moved sharply positive as predicted. Traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed the gap positive for the day. Sensex closed right at EquityPandit’s predicted resistance levels of 41340 like a dot.
Market Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in the positive zone. Market has seen a sharp rally in the last 4 consecutive trading sessions. Now we may see some easing and some profit booking can’t be ruled out. Market would enter into a negative zone only if it closes below 11886 for Nifty and 25414 for BankNifty but until then the market would be considered bullish. Nearest psychological support would exist at 12000 levels for Nifty and below these levels some selling would be induced in the market. Overall, the market is bullish for now and we may see some temporary easing on the account of profit booking.
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FIIs were net buyers of Rs.5368.31 crores whereas DIIs were net sellers of Rs.2208.18 crores in the cash market for the last trading session. Nifty would see strong support at 12100-12070-12035-12000 whereas strong resistance would be seen at 12188-12205-12240-12270 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
NSE Nifty: (12120) The support for the Nifty is 12100-12070-12035-12000 and the resistance to the up move is at 12188-12205-12240-12270.
NSE BankNifty: (26313) The support for BankNifty is 26180-26078-26000-25815 and the resistance to the up move is 26438-26518-26660-26740.
BSE Sensex: (41340) The support for the Sensex today is 41270-41110-41025-40865 and the resistance to the up move is at 41440-41518-40600-41660 levels.
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