Nifty Inching Towards 10000 Mark, Hold Long Positions

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that Indian Stock Market has entered into positive zone and traders should go long at every dip in the market. Nifty moved sharply positive as per EquityPandit’s advice. Indian Stock Market saw new record highs for the day. Finally, Indian Stock Market closed gap positive for the day. Nifty closed right below EquityPandit’s predicted resistance levels of 9970.

Today: Indian Stock Market to open positive. Technically, Indian Stock Market is still in positive zone and traders should continue to hold long positions as of now. Every dip would be an opportunity for traders to go long in the market until Nifty holds 9879 levels on closing basis. Nifty is inching towards important psychological resistance levels of 10000. Few Indian corporate Giants like Asian Paints, Axis Bank, Bharti Airtel, Hero MotoCorp and Vedanta Ltd would disclose their quarterly earnings today and would affect Indian Stock Market.

FIIs were net sellers of Rs.366.84 crores whereas DIIs were net buyers of Rs.668.87 crores in cash market for last trading session. Nifty would see strong support at 9948-9920-9900-9879 whereas strong resistance would be seen at 9982-10000-10036-10100 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 Results To Be Disclosed Today: Asian Paints, Axis Bank, Bharti Airtel, Glaxosmithkline Pharma, Hero MOtocorp, KPR Mills Ltd, L&T Technology Services, lakshmi Vilas Bank, Pidilite Industries, Raymond and Vedanta Ltd.

NSE Nifty: (9966) The support for the Nifty is 9948-9920-9900-9879 and the resistance to the up move is at 9982-10000-10036-10100 levels.

NSE BankNifty: (24421) The support for BankNifty is at 24380-24340-24260 and the resistance to the up move is at 24460-24500-24640-24710 levels.

BSE Sensex: (32246) The support for the Sensex is at 32195-32110-32060-31940 and the resistance to the up move is at 32320-32380-32450-32500 levels.

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