Nifty Entered In Positive Zone, Market Would Zoom Once BankNifty Closes Above 27037

Last Trading Session: Indian Stock Market opened flat exactly as predicted. EquityPandit predicted that market is still in negative zone but traders can initiate fresh long positions if Nifty managed to close above 11058. EquityPandit also predicted that Nifty would manage to close above 11058 and exactly same happened. Indian Stock Market saw sharp positive movement and saw highs right at EquityPandit’s predicted resistance levels of 36750 for Sensex like a dot. Sensex saw new record highs for the day. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open flat. Technically, Nifty and Sensex have entered into positive zone but BankNifty is still in negative zone. BankNifty would enter into positive zone once it closes above 27037. Some profit booking can be seen but traders can go long at dips and once BankNifty managed to close above 27037 then market would see sharp positive rally and we may see new lifetime highs for Nifty in days to come. Next target for Nifty is set to 11115-11170 levels in days to come. Traders need to keep an eye on BankNifty and for rally to continue, BankNifty needs to close above 27037 levels.

FIIs were net buyers of Rs.259.37 crores whereas DIIs were net buyersof Rs.124.82 crores in cash market for last trading session. Nifty would see strong support at 11024-11000-10980-10947 whereas strong resistance would be seen 11118-11139-11175-11200 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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Important Q1 results to be disclose today: Asian Paints, Century Plyboards, Chambal Fertilisers, Glaxosmithkline Pharma, Hexaware Technologies, ICICI Prudential Life Insurance, Info Edge, Inox Leisure, Kajaria Ceramics, KRBL, Navin Fluorine International, Network 18 Media, Radico Khaitan, Symphony and TV18 Broadcast Ltd.

Stocks In F&O Ban Period: NIL.

NSE Nifty: (11085) The support for the Nifty is 11024-11000-10980-10947 and the resistance to the up move is at 11118-11139-11175-11200 levels.

NSE BankNifty: (27008) The support for BankNifty is at 26955-26865-26800-26685 and the resistance to the up move is at 27075-27165-27240-27380-27470 levels.

BSE Sensex: (36718) The support for the Sensex is at 36600-36518-36422-36320 and the resistance to the up move is at 36780-36880-36946-37025 levels.

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