Nifty To See Sideways Movement As It Forms DOJI Pattern But Still Go Long At Dips

Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that traders should hold long positions for Nifty for the target of 11480 and exactly same happened. Indian Stock Market moved sharply positive and saw highs right above EquityPandit’s predicted targets of 11480 like a dot. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed positive for the day.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone and analysis would still remain same. Indian Stock Market would consolidate for now. Market is still bullish and traders should hold long positions until market holds above 11300 for Nifty and 27726 for BankNifty. Though Nifty has formed DOJI candlestick pattern and may see some profit booking with sideways movement for now but traders should go long at dips for next target of 11518 for Nifty where the index would see some resistance.

Nifty:

BankNifty:

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FIIs were net buyers of Rs.686.33 crores whereas DIIs were net buyers of Rs.1605.45 crores in cash market for last trading session. Nifty would see strong support at 11400-11369-11340-11315 whereas strong resistance would be seen at 11495-11518-11565-11585 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Important Results To Be Disclosed Today: 3I Infotech, Chennai Petroleum, Cyient, DHFL, Force Motors, L&T Infotech, Mastek, PVR, South Indian Bank, TVS Motors and ZEEL.

NSE Nifty: (11464) The support for the Nifty is 11400-11369-11340-11315 and the resistance to the up move is at 11495-11518-11565-11585 levels.

NSE BankNifty: (28538) The support for BankNifty is 28488-28353-28270-28140 and the resistance to the up move is 28740-28880-28960-29075 levels.

BSE Sensex: (38599) The support for the Sensex is 338445-38340-38265-38227-38100 and the resistance to the up move is at 38635-38700-38747-38800-38950 levels.

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