Nifty Forms Doji But Market Bullish Until 20906 Holds For BankNifty and 10097 For Nifty

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that the market is still bullish and traders should go long at every dip in the market. EquityPandit also suggested traders to hold long positions for now and exactly the same happened. Indian Stock Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 10396 for Nifty like a dot. Finally, Indian Stock Market closed the gap positive for the day.

Today: Indian Stock Market would open flat with a positive bias. Technically, Indian Stock Market is still in a positive zone and would be considered bullish until it holds above 10097 levels for Nifty and 20906 levels for BankNifty. But until then every downfall would be an opportunity for traders to go long in the market. Fresh buying would be seen if BankNifty manages to hold above 22000 levels for sometime. Nifty has formed a DOJI Candlestick Pattern that suggests indecisiveness but the market would be considered bearish only if it closes below EquityPandit reversal levels of 10097 for Nifty and 20906 levels for BankNifty and short position should be initiated only if that happens.

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Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.424.21 crores whereas DIIs were net sellers of Rs.1287.69 crores in the cash market for the last trading session. Nifty would see strong support at 10270-10235-10165-10120 whereas strong resistance would be seen at 10396-10458-10505-10545 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: Alkyl Amines, Asian Paints, Aster DM Healthcare, Balrampur Chini Mills, Bank Of Baroda, Berger Paints, DB Corp, Finolex Industries, GMDC, Indian Bank, Johnson Controls-Hitachi AC, NLC India, Page Industries, Phillips Carbon Black, Union Bank Of India and Vardhman Textiles.

NSE Nifty: (10311) The support for the Nifty 10270-10235-10165-10120 and the resistance to the up move is at 10396-10458-10505-10545.

NSE BankNifty: (21708) The support for BankNifty is 21065-20878-20745-20620 and the resistance to the up move is 21947-22067-22270-22545 levels.

BSE Sensex: (34911) The support for the Sensex 34695-34540-34365-34037 and the resistance to the up move is at 35065-35270-35480-35670  levels.

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