Market To Consolidate But Would Remain Bullish Until Nifty Holds Above 15100

Last Trading Session: Indian Stock Market opened gap positive for the day. Market moved sharply positive and finally managed to close gap positive for the day. Axisbank, ICICI Bank, Bajaj Finance and SBI were top gainer for the day.

Market Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in the positive zone. Market has seen a sharp rally and traders should continue to trade in the direction of the trend. Traders who are looking for short selling should remain cautious until Nifty is above psychological support of 15000 levels. The nearest support for BankNifty is at 36800 levels. Market may see some easing and consolidation but the broader trend is bullish for now. Market would see reversal and enter into the negative zone only if it closes below 15100 levels for Nifty and 36017 levels for BankNifty. Until then traders should continue to hold long positions and go long at dips near EquityPandit’s predicted support levels.

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Nifty:

Bank Nifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.1234.15 crores whereas DIIs were net sellers of Rs.1048.55 crores in the cash market for the last trading session. Nifty would see strong support at 15240-14200-15100-14977 whereas strong resistance would be seen at 15380-15440-15508 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

NSE Nifty: (15315) The support for the Nifty is 15240-14200-15100-14977 and the resistance to the up move is at 15380-15440-15508.

NSE BankNifty: (37306) The support for BankNifty is 37008-36814-36740-36515 and the resistance to the up move is 37508-37660-37770-37865.

BSE Sensex: (52154) The support for the Sensex today is 51985-51880-51740-51600 and the resistance to the up move is at 52240-52380-52470-52600 levels.

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