Market Near Its Immediate Resistance But Bullish Until Nifty Holds Above 10978

Last Trading Session: Indian Stock Market opened gap positive as predicted by EquityPandit. EquityPandit predicted that the market is in a positive zone and traders can continue to hold long positions until Nifty holds above 10825 for Nifty and exactly the same happened. EqutiyPandit also predicted that upside is open till 11200 for Nifty and 23000 for BankNifty. Indian Stock Market moved sharply positive as predicted and saw highs right near EquityPandit’s predicted resistance levels of 22850 for BankNifty. Traders, who followed EquityPandit’s suggestion might have earned huge profits for the day. Top Stocks That helped the market to move positively were Power Grid, Maruti Suzuki, ICICI Bank, HDFC, Kotak Bank, IOC, BPCL and Eicher Motors. Finally, Indian Stock Market closed the gap positive for the day. Sensex closed right below EquityPandit’s predicted resistance levels of 37940.

Today: Indian Stock Market to open flat. Technically, Indian Stock Market is still in a positive zone. Market would see reversal only if it closes below 10978 for Nifty and 22118 for BankNifty and until then the market would be considered bullish and traders can continue to hold long positions in the market. No doubts that the market is near the immediate resistance levels and EquityPandit’s targets of 11200 for Nifty and 23000 for BankNifty and hence traders should remain cautious and hedge their long positions to lock in the profits. Overall, the market is bullish and traders can even go long at dips with proper hedging.

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Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.2265.88 crores whereas DIIs were net sellers of Rs.727.39 crores in the cash market for the last trading session. Nifty would see strong support at 11145-11100-11085-11024  whereas strong resistance would be seen at 11205-11237-11265-11308 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 Declared Today: Alembic Pharmaceuticals, Bajaj Auto, Bajaj Holdings & Investment, Dhanuka Agritech, HeidelbergCement India, ICICI Securities, Jindal Steel & Power, Larsen & Toubro, Rallis India and TV18 Broadcast.

NSE Nifty: (11162) The support for the Nifty is 11145-11100-11085-11024 and the resistance to the up move is at 11205-11237-11265-11308.

NSE BankNifty: (22782) The support for BankNifty is 22615-22515-22375-22240 and the resistance to the up move is 22995-23085-232170-23380.

BSE Sensex: (37930) The support for the Sensex 37820-37740-37600-37440 and the resistance to the up move is at 38110-38370-38402-38487 levels.

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