Market To Consolidate But Still In Positive Trend, Hold Long Positions

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that market has entered into positive zone and traders can go long at every dip. Market moved sharply positive and saw resistance near EquityPandit’s predicted resistance levels of 10705 for Nifty. Traders who followed EquityPandit’s advice to go long might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open flat. Technically, analysis would remain same and Indian Stock Market is still in positive zone. Traders can continue to hold long positions in the market. Indian Stock Market would see some consolidation now after 3 days of bull run. Breaching levels of 10710 would force market to see further rally. Next logical target for Nifty is set to 10735-10780. Overall, traders can hold long positions until Nifty holds above 10600 levels. BankNifty is quite bullish and traders can continue to hold long positions in BankNifty.

FIIs were net sellers of Rs.795.06 crores whereas DIIs were net buyers of Rs.1017.65 crores in cash market for last trading session. Nifty would see strong support at 10600-10550-10500-10476 whereas strong resistance would be seen 10705-10735-10780-10820 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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NSE Nifty: (10687) The support for the Nifty is 10600-10550-10500-10476 and the resistance to the up move is at 10705-10735-10780-10820 levels.

NSE BankNifty: (26614) 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: (35165) The support for the Sensex is at 35070-35000-34970-34850 and the resistance to the up move is at 35270-35380-35440-35507 levels.

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