Nifty And BankNifty Forms DOJI, Further Positive Movement Only Above 11147 For Nifty

Last Trading Session: Indian Stock Market opened gap positive exactly as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market enters positive zone and traders should hold long positions for now and exactly same happened. Indian Stock Market moved sharply positive and saw highs right near EquityPandit’s predicted resistance levels of 37740 for Sensex and fell down from there. Market managed to remain rangebound for the day and finally, closed right near its opening levels.

Today: Indian Stock Market would open flat. Indian Stock Market is still in positive zone. Now both Nifty and BankNifty has formed a Doji Candlestick Pattern. Normally Doji Pattern is an indecisive pattern and is normally formed when bulls and bears are equally strong. Now, buying would be seen in the market if Nifty breaches or trades above 11147 levels whereas some selling or temporary reversal would be seen if Nifty trades below 11049 levels. Same would be the case with BankNifty where buying would be seen above 28278 levels whereas selling would be seen below 27960 levels for BankNifty. Overall Indian market is bullish and only US-China trade war can hamper the positive trend in India for now.

Nifty:

BankNifty:

Click Here to Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.923.94 crores whereas DIIs were net buyers of Rs.1162.65 crores in cash market for last trading session. Nifty would see strong support at 11049-11000-10965-10920 whereas strong resistance would be seen 11147-11185-11210-11285 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Stocks In F&O Ban Period: NIL.

NSE Nifty: (11105) The support for the Nifty is 11049-11000-10965-10920 and the resistance to the up move is at 11147-11185-11210-11285 levels.

NSE BankNifty: (28126) The support for BankNifty is 28035-27960-27840-27760 and the resistance to the up move is at 28251-28360-28485 levels.

BSE Sensex: (37641) The support for the Sensex is at 37525-37448-37365-37290 and the resistance to the up move is at 37740-37880-37910-38057 levels.

Note:  If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

Premium Subscription Pricing details can be seen at Stock Market Premium Services