Positive Movement To Be Seen, Go Long If Nifty Closes Above 11991

Last Trading Session: Indian Stock Market opened positive exactly as predicted by EquityPandit. EquityPandit predicted that market would see further short covering and traders can initiate long positions if Nifty closes above 11991 levels but until then wait for the confirmation of the trend and exactly same happened. Indian Stock Market moved sharply positive. BankNifty have seen sharp positive movement and finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open positive. Technically, BankNifty have entered into positive zone whereas Nifty is still in negative zone and would enter into positive zone once it closes above 11991 levels. Market would see further positive movement. Traders should close all short positions and initiate fresh long positions if Nifty manages to close above 11991 levels.

Nifty:

BankNifty:

Click Here to Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.683.83 crores whereas DIIs were net buyers of Rs.810.23 crores in cash market for last trading session. Nifty would see strong support at 11926-11900-11875-11850 whereas strong resistance would be seen at 12005-12041-12083-12125 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (11972) The support for the Nifty is 11926-11900-11875-11850 and the resistance to the up move is at 12005-12041-12083-12125 levels.

NSE BankNifty: (31665) The support for BankNifty is 31535-31445-31350-31274 and the resistance to the up move is 31740-31800-31880-31950 levels.

BSE Sensex: (40582) The support for the Sensex is 40485-40365-40240-40110 and the resistance to the up move is at 40665-40740-40800-40880 levels.

Note:  If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

Premium Subscription Pricing details can be seen at Stock Market Premium Services