Indian Market Still Bullish, Continue Long Until Nifty Holds Above 11844 For Nifty

Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that market has entered into positive zone and market is bullish for now. Indian Stock Market moved sharply positive and saw highs right near EquityPandit’s predicted resistance levels of 31067 for Nifty like a dot. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Indian Stock Market would be considered bullish until it holds above 11844 for Nifty and 30318 for BankNifty. Overall, market is positive and as said earlier, once BankNifty closes above 31200 then we would see sharp breakout in the market. Overall, traders are suggested to hold long positions until market holds EquityPandit’s reversal levels by closing.

Nifty:

BankNifty:

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FIIs were net buyers of Rs.248.94 crores whereas DIIs were net buyers of Rs.262.75 crores in cash market for last trading session. Nifty would see strong support at 12070-12035-12000-11980 whereas strong resistance would be seen at 12120-12155-12185-12201-12240 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Important Results To Be Disclosed Today: Adani Power, Aditya Birla Fashion, Advanced Enzyme Technologies, Akzo Nobel India, Aurobindo Pharma, Bata India, Dalmia Bharat, Eicher Motors, EID Parry, Endurance Technolgies, GlaxoSmithkline Consumer Healthcare, Gujarat Alkalies, Gujarat Pipavav Port, Hero Motocorp, IDFC, Indostar Capital, Indraprastha Gas, Intellect Design Arena, Johnson Controls-Hitachi Air Condition, Lupin, Metropolis Healthcare, Minda Corporation, Minda Industries, Mphasis, NMDC, Redington India, Rites, SKF India, Star Cement, Sun Pharmaceuticals, TCNS Clothing, Trent, UCO, United Bank Of India and United Breweries.

NSE Nifty: (12089) The support for the Nifty is 12070-12035-12000-11980 and the resistance to the up move is at 12120-12155-12185-12201-12240 levels.

NSE BankNifty: (31002) The support for BankNifty is 30940-30865-30815-30700-30518 and the resistance to the up move is 31075-31169-31270-31340 levels.

BSE Sensex: (41143) The support for the Sensex is 41035-41000-40880-40780 and the resistance to the up move is at 41270-41380-41440 levels.

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