Market Still In Positive Zone, Continue Long Until Nifty Holds Above 11812

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that market is bullish and traders should continue to hold long positions in the market until Nifty holds above 11728 levels and exactly same happened. Indian Stock Market remained positively biased in a rangebound region. Finally, Indian Stock Market closed marginally positive for the day.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone. Market would continue to remain bullish until it holds above 11812 for Nifty and 31030 for BankNifty. Traders are suggested to continue long in the market until these levels hold in the market. Market would consolidate for sometime before breaching psychological resistance of 12000 for Nifty. 11870 would act as immediate support for Nifty.

Nifty:

BankNifty:

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FIIs were net sellers of Rs.390.18 crores whereas DIIs were net buyers of Rs.287.57 crores in cash market for last trading session. Nifty would see strong support at 11870-11850-11800-11748 whereas strong resistance would be seen 11930-11975-12041-12083 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: DHFL and RELCAPITAL.

NSE Nifty: (11917) The support for the Nifty is 11870-11850-11800-11748 and the resistance to the up move is at 11930-11975-12041-12083 levels.

NSE BankNifty: (31382) The support for BankNifty is at 31270-31110-31067-30984-30920 and the resistance to the up move is at 31405-31455-31500-31660 levels.

BSE Sensex: (39839) The support for the Sensex is at 39740-39660-39620-39565 and the resistance to the up move is at 39880-39945-40035-40110 levels.

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