Nifty To Consolidate Until It Breaks 10865-11182 Range, Bullish Above 11182

Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that market would see further positive rally but bullish confirmation would be only if Nifty closes above 11182 levels and exactly same happened. Indian Stock Market opened gap positive but saw strong resistance near EquityPandit’s predicted resistance levels of 11139 for Nifty, 36946 for Sensex and 25532 for BankNifty. Market fell down sharply from EquityPandit’s predicted resistance levels. Finally, Indian Stock Market managed to close flat for the day.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in negative zone. Market is consolidating for now in the range of 10865 and 11182 for Nifty. Breaching any of these would decide further direction of the market. Nifty if managed to close above 11182 then it would resume bullish movement and we would see sharp positive rally in that case but until then market would be considered choppy and every positive rally would end up in profit booking. Today is F&O Expiry and market would remain highly volatile so trade cautiously.

FIIs were net sellers of Rs.809.95 crores whereas DIIs were net buyers of Rs.1555.44 crores in cash market for last trading session. Nifty would see strong support at 11000-10980-10947-10865 whereas strong resistance would be seen 11118-11139-11182-11208 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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Stocks In F&O Ban Period: ADANIPOWER, JETAIRWAYS and PNB.

NSE Nifty: (11054) The support for the Nifty is 11000-10980-10947-10865 and the resistance to the up move is at 11118-11139-11182-11208 levels.

NSE BankNifty: (25376) The support for BankNifty is at 25210-25070-24960-24820 and the resistance to the up move is at 25480-25532-25675-25835-25960 levels.

BSE Sensex: (36542) The support for the Sensex is at 36422-36320-36235-36100 and the resistance to the up move is at 36600-36780-36880-36946 levels.

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