Market Still In Positive Trend, Initiate Short Only If Nifty Closes Below 11346

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that market to see sideways movement but traders should continue to hold long positions in the market and exactly same happened. Indian Stock Market moved sharply positive and saw highs right near EquityPandit’s predicted resistance of 23170 for BankNifty. Market traded sideways for the day as predicted by EquityPandit. Finally, Indian Stock Market closed flat for the day.

Market Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in a positive zone for now. Analysis would still remain same. Market would enter into negative zone once it closes below 11346 for Nifty and 22550 for BankNifty. Traders can initiate fresh short positions only if market closes below these levels but until then traders can continue to hold long positions in the market.

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Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.1481.20 crores whereas DIIs were net sellers of Rs.172.97 crores in the cash market for the last trading session. Nifty would see strong support at 11420-11385-11340-11300  whereas strong resistance would be seen at 11470-11500-11556-11600 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

NSE Nifty: (11472) The support for the Nifty is 11420-11385-11340-11300 and the resistance to the up move is at 11470-11500-11556-11600.

NSE BankNifty: (23092) The support for BankNifty is 22850-22740-22615-22515 and the resistance to the up move is 23170-23380-23500-23660.

BSE Sensex: (38844) The support for the Sensex today is 38755-38680-38606-38515-38340 and the resistance to the up move is at 38880-38950-39075-39170 levels.

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