Nifty Heading Towards Lifetime highs, Continue Long Positions
Last Trading Session: Indian Stock Market opened positive. EquityPandit predicted that Nifty saw a fresh breakout and traders can continue long positions until 9965 holds for Nifty with targets of 10050-10085-10115-10200 and exactly same happened. Indian Stock Market moved sharply positive and achieved EquityPandit’s predicted targets of 10085 for Nifty. Traders, who followed EquityPandit’s advice might have earned whopping profits for the day. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market to open flat. Technically, Indian Stock Market is still in positive zone. Retail Inflation (CPI) in August has grown to 3.36% which is still below the RBI’s medium term target of 4% leaving further room for Rate cut. Traders can continue to hold long positions in the market until Nifty holds 9987 levels on closing basis. Some Profit booking may be seen but every dip would be an opportunity for traders to go long in the market. Nifty ready to see next targets of 10115-10138-10200 in upcoming days.
FIIs were net sellers of Rs.1230.74 crores whereas DIIs were net buyers of Rs.1313.08 crores in cash market for last trading session. Nifty would see strong support at 10050-10020-9987-9965 whereas strong resistance would be seen at 10115-10138-10150-10200 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: DHFL, IBREALEST and JPASSOCIAT
NSE Nifty: (10093) The support for the Nifty is 10050-10020-9987-9965 and the resistance to the up move is at 10115-10138-10150-10200 levels.
NSE BankNifty: (24784) The support for BankNifty is at 24618-24500-24465 and the resistance to the up move is at 24860-24980-25032-25080 levels.
BSE Sensex: (32159) The support for the Sensex is at 32082-32038-31950-31865 and the resistance to the up move is at 32240-32322-32380-32450 levels.
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