Market To Consolidate, Initiate Short Only If Nifty Closes Below 14288
Last Trading Session: Indian Stock Market opened gap positive exactly as predicted by EquityPandit. EquityPandit predicted that traders should continue long positions until Nifty held above 14147 and exactly the same happened. Indian Stock market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 14506 for Nifty. Traders, who followed EquityPandit’s prediction to hold long positions might have earned huge profits in the market. Finally, Indian Stock Market closed the gap positive for the day.
Market Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in the positive zone. Market would enter into a negative zone once it closes below 14288 for Nifty and 31696 for BankNifty but until then traders should hold long positions in the market. Market to consolidate for now. Traders can initiate fresh short positions only if the market closes below 14288 for Nifty and 31696 for BankNifty but until then continue to hold long positions in the market.
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FIIs were net buyers of Rs.3138.90 crores whereas DIIs were net sellers of Rs.2610.13 crores in the cash market for the last trading session. Nifty would see strong support at 14440-14365-14315-14270 whereas strong resistance would be seen at 14506-14585-14615-14660 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
NSE Nifty: (14485) The support for the Nifty is 14440-14365-14315-14270 and the resistance to the up move is at 14506-14585-14615-14660.
NSE BankNifty: (31999) The support for BankNifty is 32000-31880-31770-31600-31440 and the resistance to the up move is 32215-32340-32506.
BSE Sensex: (49269) The support for the Sensex today is 49110-49025-49880-49800 and the resistance to the up move is at 49315-49380-49440-49515-49606 levels.
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