Market Still Bullish, Buying To Continue Until 13000 Holds For Nifty

Last Trading Session: Indian Stock Market opened positive for the last trading session. EquityPandit predicted that Indian Stock Market is still rangebound and once the market breaches the range of 12745-13000 for Nifty on either side, the market would see a breakout in that direction and exactly the same happened. Market breached 13000 levels for Nifty and saw a sharp positive rally as predicted. Nifty saw highs right at EquityPandit’s predicted resistance levels of 13080 like a dot. Traders, who followed EquityPandit’s advice to hold long positions might have earned huge profits. Finally, Indian Stock Market closed the gap positive for the day.

Market Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in the positive zone. Market is still bullish for now. Market would enter into a negative zone only if it closes below 12882 for Nifty and 28796 for BankNifty. Traders can continue to hold long positions until the market holds above 13000 levels for Nifty which would now act as an important support level. Although the market is over-stretched and some profit booking can’t be ruled out anytime soon but until 13000 holds for Nifty, the bulls would have full control on the momentum.

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Nifty:

Bank Nifty:

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FIIs were net buyers of Rs.4563.18 crores whereas DIIs were net sellers of Rs.2522.11 crores in the cash market for the last trading session. Nifty would see strong support at 13000-12975-13900-12865-12805 whereas strong resistance would be seen at 13080-13115-13150-13180 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

NSE Nifty: (13055) The support for the Nifty is 13000-12975-13900-12865-12805 and the resistance to the up move is at 13080-13115-13150-13180.

NSE BankNifty: (29737) The support for BankNifty is 29606-29515-29440-29380-29240 and the resistance to the up move is 29815-29880-29955-30075.

BSE Sensex: (44523) The support for the Sensex today is 44365-44240-44075-43945 and the resistance to the up move is at 44660-44740-44815-44880 levels.

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