Market Would See sharp Profit Booking Until BankNifty Closes Above 26681 Levels

Last Trading Session: Indian Stock Market opened gap positive exactly as predicted by EquityPandit. EquityPandit predicted that market is in positive momentum and traders can go above 10702, which is an immediate resistance and breaching which Nifty would see levels of 10775 and exactly same happened. Indian Stock Market moved sharply positive and breached 10800 levels for a while. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day. BankNifty closed right at EquityPandit’s predicted resistance levels of 26518 like a dot.

Today: Indian Stock Market would open gap negative. Technically, Nifty has entered into positive zone but BankNifty is still in negative zone. BankNifty would enter into positive zone only if it closes above 26681. Market would see some sharp profit booking today. Market would continue its positive momentum only if it breaches levels of 10800 for Nifty. Once BankNifty closes above 26681, overall market would enter into positive trend and a sharp positive rally would be seen but until then market would continue to see profit booking (negative movement) and would consolidate in a range.

FIIs were net sellers of Rs.525.40 crores whereas DIIs were net buyers of Rs.1197.89 crores in cash market for last trading session. Nifty would see strong support at 10722-10700-10675-10645 whereas strong resistance would be seen 10803-10820-10840-10880 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: BALRAMCHIN, DHFL.

NSE Nifty: (10768) The support for the Nifty is 10722-10700-10675-10645 and the resistance to the up move is at 10803-10820-10840-10880 levels.

NSE BankNifty: (26518) The support for BankNifty is at 26420-26320-26180-26100 and the resistance to the up move is at 26660-26715-26800-26890 levels.

BSE Sensex: (35463) The support for the Sensex is at 35404-35200-35130-35070 and the resistance to the up move is at 35580-35660-35738-35888 levels.

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