Market Stretched But Continue Long Until Nifty Holds Above 10375 By closing

Last Trading Session: Indian Stock Market opened gap positive for the day as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market is still bullish and traders should continue to hold long positions in the market and exactly the same happened. Indian Stock Market moved sharply positive for the day. Traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day whereas BankNifty remained under pressure and closed flat for the day.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in the positive zone. Market would enter into a negative zone once it closes below 10375 for Nifty and 21446 for BankNifty. Though the market is over-stretched but still it is bullish and traders should continue to hold long positions until the market manages to close above 10375 levels for Nifty and 21446 for BankNifty. Traders should initiate fresh short positions only if the market closes below these levels.

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Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.556.72 crores whereas DIIs were net buyers of Rs.908.64 crores in the cash market for the last trading session. Nifty would see strong support at 10485-10440-10390-10270  whereas strong resistance would be seen at at 10616-10695-10751 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

NSE Nifty: (10551) The support for the Nifty 10485-10440-10390-10270 and the resistance to the up move is at 10616-10695-10751.

NSE BankNifty: (21953) The support for BankNifty is 21925-21815-21675-21440 and the resistance to the up move is 22385-22545-22745-22850.

BSE Sensex: (35844) The support for the Sensex 35440-35270-35105-35025-34875 and the resistance to the up move is at 36065-36170-36340-36518   levels.

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