Some Positive Movement To Be Seen But Initiate Long Only If Nifty Closes Above 12084

Last Trading Session: Indian Stock Market opened flat with negative bias exactly as predicted by EquityPandit. EquityPandit predicted that market has entered into bearish zone and traders should go short at every positive rally and exactly same happened. Indian Stock Market moved sharply negative and saw lows right near EquityPandit’s predicted support levels of 11905 for Nifty like a dot. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day. Market closed right near EquityPandit’s predicted support levels of 30550 for BankNifty and 40880 for Sensex like a dot.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in negative zone. Market would enter into positive zone only if it closes above 12084 for Nifty and 30892 for BankNifty but until then market would be considered bearish. Positive movement would be seen today due to reaction of this downfall but traders should initiate long positions only if market closes above these reversal levels.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.74.39 crores whereas DIIs were net sellers of Rs.309.43 crores in cash market for last trading session. Nifty would see strong support at 11945-11900-11870-11850 whereas strong resistance would be seen at 12041-12083-12110 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (11993) The support for the Nifty is 11945-11900-11870-11850 and the resistance to the up move is at 12041-12083-12110 levels.

NSE BankNifty: (30563) The support for BankNifty is 30445-30335-30227 and the resistance to the up move is 30660-30740-30800-30885-30950 levels.

BSE Sensex: (40894) The support for the Sensex is 40780-40700-40600-40518 and the resistance to the up move is at 40995-41035-41115-41180-41270 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