Indian Market Still Bullish, Festive Season To Lift Sales, Further Rally To Be Seen
Last Trading Session: Indian Stock Market opened positive for the last trading session. EquityPandit predicted that the market would ease down but was still bullish until Nifty held above 11886 and the same happened. Market saw some profit booking while opening but recovered sharply and finally, managed to close the gap positive for the day.
Market Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market is still in the positive zone. Nifty now heading towards new lifetime highs. Market would continue to see a positive rally for now in the festive season. Market would enter into a negative zone only if it closes below 12021 for Nifty and 25720 for BankNifty and until then the market would be considered bullish and traders can go long at every downfall in the market.
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FIIs were net buyers of Rs.5869.87 crores whereas DIIs were net sellers of Rs.2938.66 crores in the cash market for the last trading session. Nifty would see strong support at 12195-12165-12125-12100-12070 whereas strong resistance would be seen at 12310-12340-12380-12432 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
NSE Nifty: (12264) The support for the Nifty is 12195-12165-12125-12100-12070 and the resistance to the up move is at 12310-12340-12380-12432.
NSE BankNifty: (26799) The support for BankNifty is 26685-26615-26470-26365 and the resistance to the up move is 26922-27005-27075-27165-27380.
BSE Sensex: (41893) The support for the Sensex today is 41720-41650-41600-41518 and the resistance to the up move is at 42035-42110-42270-42440 levels.
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