Market Would Continue To See Sideways Movement, Hold Long Until Nifty Above 11182

Last Trading Session: Indian Stock Market opened positive as predicted. EquityPandit predicted that the market would remain rangebound but traders should continue to hold long positions until Nifty holds above 11182 and exactly the same happened. Indian Stock Market moved positive but traded in a small range as predicted by EquityPandit. Larsen & Toubro (+4.31%) and Titan (3.91%) were the top gainers of the day whereas Bharti Airtel (-2.25%) and Sun Pharma (-2.13%) were the top losers of the day. Finally, Indian Stock Market closed flat for the day.

Market Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in the positive zone. Analysis would remain the same and we would continue to see sideways movement. Market would enter into a negative zone only if it closes below 11182 levels for Nifty and 21717 for Bank Nifty and until then it would be considered bullish. Traders should initiate short positions only if the market closes below EquityPandit’s reversal levels of 11182 for Nifty and 21717 for BankNifty.

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Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.416.28 crores whereas DIIs were net sellers of Rs.763.54 crores in the cash market for the last trading session. Nifty would see strong support at 11274-11235-11165-11100  whereas strong resistance would be seen at 11340-11390-11430-11455 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

Important Results To Be Declared Today: NTPC, Berger Paints, Hindalco Industries, MRF, UBL, Voltas, New India Assurance, Sun TV, Glenmark and Fortis Health.

NSE Nifty: (11300) The support for the Nifty is 11274-11235-11165-11100 and the resistance to the up move is at 11345-11390-11430-11455.

NSE BankNifty: (22196) The support for BankNifty is 22000-21925-21815-21675 and the resistance to the up move is 22385-22545-22745-22850.

BSE Sensex: (38310) The support for the Sensex Today is 38265-38227-38100-37940 and the resistance to the up move is at 38487-38635-38700-38747-38800 levels.

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