Market To See Some Positive Movement But Initiate Long Only If Nifty Closes Above 11136

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that the Market would be considered bullish only if Nifty closes above 11136 but until then every positive movement would be an opportunity to go short in the market and exactly the same happened. Indian Stock Market moved sharply positive but was unable to hold higher levels and as predicted by EquityPandit, it fell down sharply to close below 11136 for Nifty and 21870 levels for BankNifty. Traders who followed EquityPandit’s advice might have earned excellent profits for the day. Tata Steel (+6.33%), Titan (+2.81%) and Maruti (+2.63%) were the top gainers whereas Hdfc Bank (-1.35%), Power Grid (-1.29%) and Reliance Industries (-1.12%) were the top losers for 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 a negative zone. Analysis still remains the same and the market would enter into a positive zone only if it closes above 11136 for Nifty and 21870 for BankNifty. Market would be considered bullish only if it closes above these levels and if it happens, then traders can initiate fresh long positions as the market would see a sharp positive rally in that case. But until then every positive rally would be an opportunity to go short in the market.

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Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.60.18 crores whereas DIIs were net sellers of Rs.425.98 crores in the cash market for the last trading session. Nifty would see strong support at 11040-11024-10980-10945  whereas strong resistance would be seen at 11130-11154-11185-11205-11237 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

Important Results To Be Declared Today: Adani Enterprises, Adani Power, BASF India, Bayer CropScience, Blue Star, Can Fin Homes, Dalmia Bharat, Deepak Nitrite, Esab India, Gujarat Pipavav Port, Gujarat State Petronet, HPCL, Honeywell Automation India Ltd, IFB Industries, Indian Hotels Co Ltd, Jamna Auto Industries, JK Tyre, KEI Industries, Sumitomo Chemicals, Torrent Power, Vodafone Idea and Whirlpool of India.

NSE Nifty: (11102) The support for the Nifty is 11040-11024-10980-10945 and the resistance to the up move is at 11130-11154-11185-11205-11237.

NSE BankNifty: (21510) The support for BankNifty is 21065-20878-20745-20620 and the resistance to the up move is 21715-21862-22000-22385.

BSE Sensex: (37663) The support for the Sensex 37440-37365-37240-37110 and the resistance to the up move is at 37808-37930-38110-38245 levels.

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