Market Still Bullish, Continue Long Until Nifty Holds Above 10203 Levels On Closing Basis

Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that Indian Stock Market is still in a positive zone for now. EquityPandit also predicted that the market may see some profit booking but traders should initiate short positions only if Nifty closed below 10167 levels and until then traders should hold long positions and exactly the same happened. Indian Stock Market moved negative initially but was not able to hold lower levels and saw a sharp bounce for the day. Market saw strong resistance near EquityPandit’s predicted resistance levels of 10458 for Nifty and 35480 for Sensex. Finally, Indian Stock Market closed the gap positive for the day. Traders who followed  the advice to hold long positions might have earned huge profits for the day.

Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market is still in the positive zone. Analysis would remain the same and traders should continue to hold long positions until the market doesn’t close below EquityPandit’s reversal levels. Indian Stock Market would enter into a negative zone only if it closes below 10203 for Nifty and 21128 for BankNifty. Overall market is still bullish and traders should hold long positions for now with closing stoploss below EquityPandit reversal levels.

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Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.1696.45 crores whereas DIIs were net buyers of Rs.1377.13 crores in the cash market for the last trading session. Nifty would see strong support at 10390-10270-10235-10165  whereas strong resistance would be seen at 10505-10545-10616-10695 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

NSE Nifty: (10430) The support for the Nifty 10390-10270-10235-10165 and the resistance to the up move is at 10505-10545-10616-10695.

NSE BankNifty: (21978) The support for BankNifty is 21925-21815-21675-21440 and the resistance to the up move is 22385-22545-22745-22850.

BSE Sensex: (35414) The support for the Sensex 35270-35105-35025-34875 and the resistance to the up move is at 35670-35880-36065-36170 levels.

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