Market To See Sharp Rally If Nifty Closes Above 11955, Hold Long Positions For Now

Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that traders should continue long positions until BankNifty holds above 30451 and exactly same happened. Indian Stock Market moved sharply positive and finally managed to close positive for the day. Traders, who followed EquityPandit’s advice might have earned huge profits for the day.

Today: Indian Stock Market would open flat. Technically, Nifty is still in negative zone whereas BankNifty is still in positive zone. Market would enter into negative trend only if BankNifty enters negative zone by closing below 30507 but until then market would remain rangebound with positive bias. Market would see sharp positive rally if Nifty manages to close above 11955 levels.

Nifty:

BankNifty:

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FIIs were net sellers of Rs.1008.37 crores whereas DIIs were net buyers of Rs.537.74 crores in cash market for last trading session. Nifty would see strong support at 11875-11830-11800-11748 whereas strong resistance would be seen at 11960-12041-12083 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (11895) The support for the Nifty is 11875-11830-11800-11748 and the resistance to the up move is at 11960-12041-12083 levels.

NSE BankNifty: (31008) The support for BankNifty is 30920-30865-30815-30740 and the resistance to the up move is 31169-31270-31340-31405-31455 levels.

BSE Sensex: (40357) The support for the Sensex is 40270-40110-40035-40000 and the resistance to the up move is at 40500-40600-40750-40880 levels.

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