Market Would Consolidate For Now But Bullish Until 9890 Holds For Nifty

Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that the market is still bullish and the next target for Nifty is set to 10028-10150 and BankNifty is at 20900-21200 and exactly the same happened. Indian Stock Market moved sharply positive and achieved all targets of EquityPandit for Nifty and BankNifty. 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.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in the positive zone. Market would enter into a negative zone only once it closes below 9890 for Nifty and 20400 for Sensex and until then the market would be considered bullish. Market would see some consolidation and may see some profit booking. Still there is a room for upside till 10400-10500 levels for Nifty, where it should complete its current rally. But traders should remain cautious as the market is in the last phase of its current rally and we may soon see a distribution pattern in the market. For now, traders can hold long positions until it holds above 9890 for Nifty and 20400 for BankNifty on closing basis and below this, one can go short in the market.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.1851.12 crores whereas DIIs were net sellers of Rs.781.79 crores in the cash market for the last trading session. Nifty would see strong support at 10037-9980-9933-9903-9875 whereas strong resistance would be seen at 10185-10275-10396-10440 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 Disclosed Today: DLF, PI Industries, SRF Ltd.

NSE Nifty: (10062)  The support for the Nifty is 10037-9980-9933-9903-9875 and the resistance to the up move is at 10185-10275-10396-10440 levels.

NSE BankNifty: (20940) The support for BankNifty is 20878-20745-20620-20545 and the resistance to the up move is 21240-21465-21715-21862-22000 levels.

BSE Sensex: (34110) The support for the Sensex is 34037-34815-33678-33530 and the resistance to the up move is at 34240-34500-34770-34888 levels.

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