Close All Short And Initiate Fresh Long Only If Nifty Closes Above 11376

Last Trading Session: Indian Stock Market opened negative as predicted by EquityPandit. EquityPandit predicted that market would remain bearish until Nifty closes above 11406 and BankNifty closes above 29461 and exactly same happened. Indian Stock Market moved negative but saw strong support at EquityPandit’s predicted support levels of 37690 like a dot and recovered sharply from there. BankNifty saw highs right at EquityPandit’s predicted resistance levels of 29380 like a dot. Finally, Indian Stock Market managed to close positive for the day.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in negative zone. Though market is in negative zone but it is expected to see some short covering rally (Positive rally) until Nifty holds above 11200 levels. Market would enter into positive zone once it closes above 11376 for Nifty and 29461 for BankNifty. Traders can close all short positions and initiate fresh long positions if market closes above these levels.

Nifty:

BankNifty:

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FIIs were net sellers of Rs.1503.26 crores whereas DIIs were net buyers of Rs.1917.52 crores in cash market for last trading session. Nifty would see strong support at 11235-11200-11165-11125 whereas strong resistance would be seen 11308-11355-11385-11400 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: (11284) The support for the Nifty is 11235-11200-11165-11125 and the resistance to the up move is at 11308-11355-11385-11400 levels.

NSE BankNifty: (29325) The support for BankNifty is 29220-29110-29027-28950 and the resistance to the up move is at 29460-29520-29600-29705-29800 levels.

BSE Sensex: (37883) The support for the Sensex is at 37800-37690-37550-37430 and the resistance to the up move is at 37940-38027-38075-38170 levels.

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