Nifty, Sensex Forms Bullish Harami Candlestick Pattern, Further Positive Momentum To Be Seen

Last Trading Session: Indian Stock Market opened gap positive as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market would see a sharp short covering rally but traders can go short at rally near resistance and the same happened. Indian Stock Market opened gap positive and saw strong resistance near EquityPandit’s predicted resistance levels of 14815. Market reversed from day highs and consolidated for the whole trading session. Finally, Indian Stock Market closed positive for the day.

Market Today: Indian Stock Market would open positive. Indian Stock Market is still in a negative zone but the market has formed a Bullish Harami Candlestick pattern that suggests a further bullish momentum in the market. Market would see some positive movement for the day. Traders can initiate fresh long positions only if the market closes above 14966 levels for Nifty and 36290 levels for BankNifty. Until then traders can either hold cash in hand or can go short near reversal levels or resistance levels with proper hedging.

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Nifty:

Bank Nifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.125.15 crores whereas DIIs were net sellers of Rs.194.88 crores in the cash market for the last trading session. Nifty would see strong support at 14715-14645-14616-14540-14470 whereas strong resistance would be seen at 14815-14880-14945-15035 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
  
NSE Nifty: (14762) The support for the Nifty is 14715-14645-14616-14540-14470 and the resistance to the up move is at 14815-14880-14945-15035.

NSE BankNifty: (35296) The support for BankNifty is 35075-34865-34770-34700 and the resistance to the up move is 35440-35606-35715-35808.

BSE Sensex: (49850) The support for the Sensex today is 49615-49508-49380-49240 and the resistance to the up move is at 50140-50270-50440-50635 levels.

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