BankNifty Enters Positive Zone, Go Long At Dips Until Nifty Holds Above 11124 By Closing
Last Trading Session: Indian Stock Market opened positive as predicted. EquityPandit predicted that a market to consolidate and positive rally will be seen if BankNifty breaches 21870 and exactly the same happened. Indian Stock Market moved sharply positive and BankNifty managed to close above 21870. EquityPandit suggested traders to go long if BankNifty closes above 21870 and BankNifty manages to close above those levels. Larsen & Toubro (+4.85%), M&M (+4.74%), Sun Pharma (+3.40%), Tech Mahindra (+2.93%) and NTPC (+2.80%) were the top gainers for the day. Finally, Indian Stock Market closed positive for the day.
Market Today: Indian Stock Market would open positive. Technically, Nifty was already in the positive zone and now BankNifty has also entered into the positive zone. Now the market is bullish until Nifty holds above 11124 and BankNifty holds above 21447 and hence traders can go long at dips until these reversal levels hold on a closing basis. Traders, who have gone long on our advice yesterday would be able to generate good profits today.
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FIIs were net buyers of Rs.302.88 crores whereas DIIs were net sellers of Rs.504.92 crores in the cash market for the last trading session. Nifty would see strong support at 11235-11165-11100-11065 whereas strong resistance would be seen at 11340-11390-11430-11455 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
Important Results To Be Declared Today: AIA Engineering, GE Power, Ashiana Housing, Ashoka Buildcon, Bajaj Electricals, Bosch Ltd, Capacite Infraprojects, Central Bank Of India, Chalet Hotels, Galaxy Surfactants, Godawari Power & Ispat, Gujarat Alkalies & Chemicals, Honda India Power Products, JMC Projects, KRBL, Metropolis Healthcare, Motherson Sumi Systems, Oracle Financial Services Software, PTC India, Ratnamani Metals, Rashtriya Chemicals, Shriram City Union Finance, Star Cement, Symphony, Usha Martin, Vesuvius and VST Tillers Tractors Ltd.
NSE Nifty: (11270) The support for the Nifty is 11235-11165-11100-11065 and the resistance to the up move is at 11340-11390-11430-11455.
NSE BankNifty: (21900) The support for BankNifty is 21785-21675-21440-21270 and the resistance to the up move is 22035-22135-22385-22545.
BSE Sensex: (38182) The support for the Sensex 38075-37880-37740-37600 and the resistance to the up move is at 38370-38402-38487-38606 levels.
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