Market To See Further Short Covering Rally But Initiate Long Only if Nifty Closes Above 11095

Last Trading Session: Indian Stock Market opened positive exactly as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market is still in a negative zone but as the market is over stretched, we would see some bounce back and exactly the same happened. Equitypandit also predicted that further downfall would only be seen if Nifty breaches levels of 10780. Indian Stock Market saw a sharp bounce back as predicted. BankNifty saw highs right at EquityPandit’s predicted resistance levels of 21060 like a dot. Traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock market closed the gap positive for the day.

Market Today: Indian Stock Market would open positive. Technically, Indian Stock Market is in a negative zone. Market would see further short covering rally. Market would enter into a positive zone if it closes above 11095 for Nifty and 21266 for Bank Nifty. Traders can initiate fresh long positions if the market closes above 11095 for Nifty and 21266 for BankNifty.

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Nifty:

Bank Nifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.2080.21 crores whereas DIIs were net buyers of Rs.2070.63 crores in the cash market for the last trading session. Nifty would see strong support at 11024-10980-10945-10880 whereas strong resistance would be seen at 11105-11154-11185-11205-11237 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

NSE Nifty: (11050) The support for the Nifty is 11024-10980-10945-10880 and the resistance to the up move is at 11105-11154-11185-11205-11237.

NSE BankNifty: (20982) The support for BankNifty is 20745-20620-20545 and the resistance to the up move is 21240-21465-21715-21862.

BSE Sensex: (37389) The support for the Sensex today is 37290-37140-37025-36880 and the resistance to the up move is at 37577-37680-37755-37880-37940 levels.

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