Indian Market Bullish Until Nifty Holds Above 10899, Go Long At Dips

Last Trading Session: Indian Stock Market opened positive exactly as predicted. EquityPandit predicted that market is in positive trend and traders should long at every dip in the market. Market moved positive and saw highs right at EquityPandit’s predicted resistance levels of 11078 for Nifty like a dot. Market moved sharply negative from there and saw lows right at EquityPandit’s predicted support levels of 10965 for Nifty like a dot. Finally, Indian Stock Market closed negative for the day. BankNifty closed right below EquityPandit’s predicted resistance levels of 27820 like a dot.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone and traders should continue to hold long positions for now. Market would enter into negative zone only belwo 10899 for Nifty and 27428 for BankNifty and until then traders should hold long positions or go long at every dip in the market. Nifty needs to confirm Inverse Head and Shoulder pattern by breaching the neckline to see a sharp positive breakout in the market.

Nifty:

BankNifty:

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FIIs were net buyers of Rs.783.55 crores whereas DIIs were net sellers of Rs.126.82 crores in cash market for last trading session. Nifty would see strong support at 10900-10840-10800-10749 whereas strong resistance would be seen at 11005-11025-11078-11110 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Stocks In F&O Ban Period: NIL.

NSE Nifty: (10983) The support for the Nifty is 10900-10840-10800-10749 and the resistance to the up move is at 11005-11025-11078-11110 levels.

NSE BankNifty: (27818) The support for BankNifty is 27635-27565-27450-27340 and the resistance to the up move is at 27820-27880-28000-28035 levels.

BSE Sensex: (37104) The support for the Sensex is 37072-36950-36850-36814 and the resistance to the up move is at 37270-37368-37435-37500 levels.

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