Nifty Enters Positive Zone, BankNifty To Follow If Closes Above 28190

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that market would consolidate further and would be bullish only if it closes above 11009 for Nifty. Market has seen a breakout and moved sharply positive in the later half of the trading session and finally, managed to close above trend reversal levels of 11009 for Nifty. Nifty closed right below EquityPandit’s predicted resistance levels of 11035 like a dot.

Today: Indian Stock Market would open positive. Nifty has entered into positive zone but BankNifty is still in negative zone. BankNifty would enter into positive zone once it closes above 28190 levels. Now if BankNifty manages to close above 28190 then the market as a whole would see sharp positive rally. Traders can initiate long positions now and could add move if BankNifty closes above EquityPandit’s predicted reversal levels.

Nifty:

BankNifty:

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FIIs were net sellers of Rs.437.39 crores whereas DIIs were net buyers of Rs.291.29 crores in cash market for last trading session. Nifty would see strong support at 11000-10965-10920-10900 whereas strong resistance would be seen 11078-11118-11157-11185 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Important Results To Be Disclosed Today: BHEL, BPCL, Britannia, Cadila Healthcare, Century Plyboards, Future Consumer, GAIL, Gujarat Alkalies & Chemicals, Himatsingka Seide, Hindalco Industries, Honeywell Automation, Inox Wind, ITD Cementation, Jamna Auto, Meghmani Organics, MRF, Narayana Hrudayalaya, Natco Pharma, NCC, New India Assurance, NHPC, Oil India, PC Jeweller, Pfizer, Reliance Communications, SH Kelkar & Company, Shipping Corporation Of India, Shree Cement, Sobha, SpiceJet, SAIL, TV Today Network and Varroc Engineering.

Stocks In F&O Ban Period: NIL.

NSE Nifty: (11032) The support for the Nifty is 11000-10965-10920-10900 and the resistance to the up move is at 11078-11118-11157-11185 levels.

NSE BankNifty: (28110) The support for BankNifty is 27960-27840-27760 and the resistance to the up move is at 28180-28275-28380-28540 levels.

BSE Sensex: (37327) The support for the Sensex is at 37270-37165-37110-37072-36980 and the resistance to the up move is at 37425-37530-37585-37660 levels.

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