Nifty To See Consolidation With Some Profit Booking Until It Breaches 10840
Last Trading Session: Indian Stock Market opened gap positive exactly as predicted by EquityPandit. EquityPandit predicted that market would see further positive movement and traders should hold long positions for now and exactly same happened. Indian Stock Market moved sharply positive. BankNifty saw highs right at EquityPandit’s predicted resistance levels of 26950 like a dot. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open negative. Technically, Indian Stock Market is still in positive zone but now Indian Stock Market is forming some bearish candle and can see some negative movement. Indian Stock Market would become weak if Nifty traders below 10749 whereas market would see strength above 10840. Overall, market is positive but some profit booking can’t be ruled out if Nifty is not able to trade above 10840 levels. If Nifty would hold 10749, then we could see next target of 10920 in upcoming sessions. But overall, the signals shows that profit booking is on the cards for now.
FIIs were net buyers of Rs.675.14 crores whereas DIIs were net sellers of Rs.51.86 crores in cash market for last trading session. Nifty would see strong support at 10749-10700-10675-10645 whereas strong resistance would be seen 10840-10880-10922-10945 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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NSE Nifty: (10792) The support for the Nifty is 10749-10700-10675-10645 and the resistance to the up move is at 10840-10880-10922-10945 levels.
NSE BankNifty: (26816) The support for BankNifty is at 26720-26600-26500-26440-26365 and the resistance to the up move is at 26950-27005-27075-27205 levels.
BSE Sensex: (35930) The support for the Sensex is at 35792-35670-35628-35585-35540 and the resistance to the up move is at 35970-36067-36180-36250 levels.
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