Nifty Still In Positive Zone, Go Long At Dips Until 9900 Holds On Closing Basis
Last Trading Session: Indian Stock Market opened positive for the day. Last week, EquityPandit predicted that traders can initiate fresh long if Nifty closes above 9847 levels and exactly same happened. Nifty moved sharply positive in last trading session and saw highs right below 10000 psychological resistance levels. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market to open negative on weak US Job Report. Indian Stock Market is still in positive zone. Market would see some psychological resistance at 10000 levels for Nifty. Traders are suggested to go long at dips as next logical targets would be 10040-10080 levels for Nifty. Market would see strong support at 9900-9880 levels for Nifty and 24000 levels for BankNifty. Some consolidation would be seen around 10000 levels for Nifty but breaching these levels on closing basis would infuse strong buying in the index.
FIIs were net sellers of Rs.5328.46 crores whereas DIIs were net buyers of Rs.5196.60 crores in cash market for last trading session. Nifty would see strong support at 9945-9900-9880-9860 whereas strong resistance would be seen at 9990-10028-10098-10115 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: BEML, DHFL, IBREALEST, JPASSOCIAT and JSWENERGY.
NSE Nifty: (9980) The support for the Nifty is 9945-9900-9880-9860 and the resistance to the up move is at 9990-10028-10098-10115 levels.
NSE BankNifty: (24190) The support for BankNifty is at 24130-24075-24000-23947 and the resistance to the up move is at 24240-24350-24422-24462 levels.
BSE Sensex: (31814) The support for the Sensex is at 31718-31660-31500 and the resistance to the up move is at 31885-31950-32060-32180 levels.
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