Market At Record Highs And Would See Some Consolidation But Trend Is Still Bullish

Last Trading Session: Indian Stock Market opened positive exactly as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market is still bullish and traders should continue to hold long positions until it holds above 11982 for Nifty and exactly same happened. Indian Stock Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 12188 for Nifty. Indian Stock Market saw record highs exactly as predicted by EquityPandit and traders who followed EquityPandit’s advice might have earned whopping profits for the day. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Market is overstretched and may see some consolidation or even profit booking but traders should continue to go long at dips until it holds above 12017 for Nifty and 31700 for BankNifty. We may see lower volumes in upcoming days due to holiday season. Overall, the trend is bullish for now.

Nifty:

BankNifty:

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FIIs were net buyers of Rs.1248.47 crores whereas DIIs were net sellers of Rs.908.16 crores in cash market for last trading session. Nifty would see strong support at 12125-12105-12070-12035 whereas strong resistance would be seen at 12188-12240-12270-12310 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (12165) The support for the Nifty is 12125-12105-12070-12035 and the resistance to the up move is at 12188-12240-12270-12310 levels.

NSE BankNifty: (32140) The support for BankNifty is 32110-32035-31940-31865-31600-31500 and the resistance to the up move is 32240-32380-32470 levels.

BSE Sensex: (41352) The support for the Sensex is 41270-41180-41110-41025 and the resistance to the up move is at 41440-41518-40600-41660 levels.

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