Market To See Further Profit Booking Until Nifty Closes Above 10824

Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that market would see profit booking as Nifty is still in negative zone and exactly same happened. Indian Stock Market opened flat and moved positive but saw strong resistance near EquityPandit’s predicted resistance levels of 10835 and fell down sharply from there on profit booking as predicted by EquityPandit. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open negative. Technically, BankNifty is in positive zone but Nifty is still in negative zone. Nifty would enter into positive zone only if it closes above 10824 levels and until then traders should not initiate long positions. US-China trade concerns would affect all markets around the globe. US President Trump reportedly plans to curb Chinese Investment in US Tech companies. Indian Stock Market would continue to see further downfall and BankNifty would again enter into negative zone if it closes below 26451.

FIIs were net buyers of Rs.198.68 crores whereas DIIs were net sellers of Rs.86.22 crores in cash market for last trading session. Nifty would see strong support at 10750-10722-10700-10675-10645 whereas strong resistance would be seen 10808-10835-10880-10906 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: CGPOWER, DHFL, IDBI, INFIBEAM, JPASSOCIAT and WOCKPHARMA.

NSE Nifty: (10762) The support for the Nifty is 10750-10722-10700-10675-10645 and the resistance to the up move is at 10808-10835-10880-10906 levels.

NSE BankNifty: (26609) The support for BankNifty is at 26535-26420-26340-26180 and the resistance to the up move is at 26715-26800-26890-26971 levels.

BSE Sensex: (35470) The support for the Sensex is at 35430-35380-35260-35145 and the resistance to the up move is at 35568-35660-35750-35880 levels.

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