Market To See Positive Rally, Carry Long Home If BankNifty Closes Above 25009

Last Trading Session: Indian Stock Market opened negative exactly as predicted by EquityPandit. EquityPandit predicted that market would consolidate for now and next positive rally would only be seen if BankNifty closes above 25009 and exactly same happened. Indian Stock Market consolidated and saw some profit booking as predicted by EquityPandit. Finally, Indian Stock Market closed negative for the day. Nifty closed right near EquityPandit’s predicted support of 10200.

Today: Indian Stock Market would open gap positive. Technically, Nifty is still in positive zone whereas BankNifty is in negative zone. Market would see sharp positive movement today backed by US and Asian counters. BankNifty would enter into positive zone once it closes above 25009 and traders can take long positions home if that happens. Overall, market is positive and traders can go long at every dip in the market but bullish sentiments would be confirmed only if BankNifty closes above 25009.

FIIs were net sellers of Rs.2230.79 crores whereas DIIs were net buyers of Rs.2526.90 crores in cash market for last trading session. Nifty would see strong support at 10175-10140-10100-10065-10000 whereas strong resistance would be seen 10257-10305-10380-10451 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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Important Quarterly Results To Be Declared Today: Adani Power, AIA Engineering, Ajanta Pharma, Balrampur Chini, Ble Dart Express, Canara Bank, Castrol India, Cochin Shipyard, Dabur India, Escorts, Future Lifestyle, DHCL, Gujarat Pipavav Port ltd. HEG, Heritage Foods, HFCL, Honeywell Automation, ITD Cementation, Jagran Prakashan, Kalpataru Power, KEI Industries, Larsen & Toubro, Lupin, Minda Corpoaration, MOIL, Narayana Hrudayalaya, Navneet Education, Prism Johnson, Reliance Nippon Life Asset Management, Sanofi India, Schneider Electric Infrastructure, Sharda Cropchem, Syndicate Bank, Tata Motors, Tata Motors-DVR, TI Financial Holdings Ltd and Vedanta Ltd.

Stocks In F&O Ban Period: ADANIPOWER.

NSE Nifty: (10198) The support for the Nifty is 10175-10140-10100-10065-10000 and the resistance to the up move is at 10257-10305-10380-10451 levels.

NSE BankNifty: (24808) The support for BankNifty is 24685-24618-24536-24465 and the resistance to the up move is at 25016-25075-25202-25265-25340 levels.

BSE Sensex: (33891) The support for the Sensex is at 33800-33745-33665-33575 and the resistance to the up move is at 34075-34165-34240-34325 levels.

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