Nifty To See Positive Rally But Bullish Only Above 11182 Levels

Last Trading Session: Indian Stock Market opened flat as predicted by EquityPandit. EquityPandit predicted that market would consolidate now in 10865-11182 range for Nifty. EquityPandit also predicted that every positive rally would end up in profit booking and exactly same happened. Indian Stock Market moved sharply positive but was not able to sustain higher levels and saw sharp profit booking exactly as per EquityPandit’s prediction. Market saw lows exactly near EquityPandit’s predicted support levels of 10947 for Nifty and 36235 for Sensex like a dot. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in negative zone. Analysis would remain same and for fresh movement, market needs to breach the range of 10865-11182 for Nifty on either side on closing basis and until then market would continue to see sideways movement in a rangebound region. Nifty if managed to breach 10865 on closing basis then it would head towards 10500 levels whereas if Nifty managed to close above 11182 levels then once again bullish momentum would be generated in the market and fresh positive rally would resume but until then market would be considered bearish and every positive rally would end up in profit booking. Traders, who wish to go long can do so with strict stoploss of 10865 on closing basis.

FIIs were net buyers of Rs.552.44 crores whereas DIIs were net sellers of Rs.186.69 crores in cash market for last trading session. Nifty would see strong support at 10947-10865-10836-10800 whereas strong resistance would be seen 11005-11060-11088-11139 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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Stocks In F&O Ban Period: NIL.

NSE Nifty: (10978) The support for the Nifty is 10947-10865-10836-10800 and the resistance to the up move is at 11005-11060-11088-11139 levels. levels.

NSE BankNifty: (25042) The support for BankNifty is at 25210-25070-24960-24830-24772-24714-24618 and the resistance to the up move is at 25190-25240-25380-25480 levels.

BSE Sensex: (36324) The support for the Sensex is at 36214-36100-36065-35980-35800 and the resistance to the up move is at 36540-36600-36660-36740 levels.

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