Indian Stock Market Still In Positive Momentum, Hold Long Positions For Now

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that Indian Stock Market is still in positive zone. EquityPandit also predicted that market would consolidate but traders should hold long positions until Nifty holds above 10392 and exactly same happened. Indian Stock Market moved sharply positive after a bit consolidation and saw highs right near EquityPandit’s predicted resistance of 10562 like a dot. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone. Market would continue to see positive momentum for now and traders should continue to hold long positions in the market. Reversal would be seen only if Nifty closes below 10439 and BankNifty closes below 24995 levels but until then market would be considered bullish and traders can continue to hold long positions for EquityPandit’s target of 10562-10600 for Nifty. Overall, market is bullish as of now and traders should hold long positions for higher targets.

FIIs were net sellers of Rs.951.39 crores whereas DIIs were net buyers of Rs.723.81 crores in cash market for last trading session. Nifty would see strong support at 10500-10439-10400-10380 whereas strong resistance would be seen 10562-10600-10632-10700 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: (10549) The support for the Nifty is 10500-10439-10400-10380 and the resistance to the up move is at 10562-10600-10632-10700 levels.

NSE BankNifty: (25334) The support for BankNifty is at 25228-25070-24960-24820-24700 and the resistance to the up move is at 25400-25500-25660-25722 levels.

BSE Sensex: (34395) The support for the Sensex is at 34228-34170-34110-34070-33920 and the resistance to the up move is at 34500-34610-34666 levels.

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