Further Positive Rally To Be Seen But Bullish Confirmation Only Above 11182 For Nifty

Last Trading Session: Indian Stock Market opened flat as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market is over-stretched and would see short covering rally and exactly same happened. Market saw lows right at EquityPandit’s predicted support levels of 10880 for Nifty and 36065 for Sensex like a dot. Market recovered sharply from day lows and saw highs also right at EquitPandit’s predicted resistance levels of 11080 like a dot. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in negative zone but now it has already tested EquityPandit support and rebounded, so we would see some more positive movement from here. Market would enter into positive zone once it closes above 11182 for Nifty and 25651 for BankNifty. Till then traders can go long with small quantity and can add up the long positions when market closes above EquityPandit’s predicted reversal levels of 11182 for Nifty and 25651 for BankNifty.

FIIs were net sellers of Rs.1231.70 crores whereas DIIs were net buyers of Rs.2284.26 crores in cash market for last trading session. Nifty would see strong support at 11024-11000-10980-10947 whereas strong resistance would be seen 11118-11139-11175-11200 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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Stocks In F&O Ban Period: ADANIPOWER and DHFL.

NSE Nifty: (11067) The support for the Nifty is 11024-11000-10980-10947 and the resistance to the up move is at 11118-11139-11175-11200 levels.

NSE BankNifty: (25330) The support for BankNifty is at 25228-25070-24960-24820 and the resistance to the up move is at 25480-25532-25675-25835-25960 levels.

BSE Sensex: (36652) The support for the Sensex is at 36600-36518-36422-36320 and the resistance to the up move is at 36780-36880-36946-37025 levels.

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