Last Trading Session: Indian Stock Market opened positive exactly as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market would see further short covering rally and traders should initiate fresh long positions once the market closes above 11095 for Nifty and exactly the same happened. Indian Stock Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 11237 for Nifty like a dot. Finally, Indian Stock Market closed gap positive as predicted.
Market Today: Indian Stock Market would open flat with positive bias. Technically, Nifty and BankNifty have entered into the positive zone. Market is now strong. Some profit booking can be seen after a sharp positive rally in the last two trading sessions but traders can go long at every dip in the market if it. Overall, the market is bullish for now and every downfall would be an opportunity to go long in the market.
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FIIs were net sellers of Rs.26.98 crores whereas DIIs were net buyers of Rs.542.34 crores in the cash market for the last trading session. Nifty would see strong support at 11180-11145-11100-11085-11024 whereas strong resistance would be seen at 11265-11308-11340-11390 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
NSE Nifty: (11228) The support for the Nifty is 11180-11145-11100-11085-11024 and the resistance to the up move is at 11265-11308-11340-11390.
NSE BankNifty: (21666) The support for BankNifty is 21550-21350-21065-20878 and the resistance to the up move is 21862-22000-22385.
BSE Sensex: (37982) The support for the Sensex today is 37880-37740-37600-37440 and the resistance to the up move is at 38180-38370-38402-38487 levels.
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