Last Trading Session: Indian Stock Market opened positive right at EquityPandit’s predicted resistance levels of 14240 like a dot. EquityPandit predicted that the market is overstretched but still bullish and intraday traders can go long at correction near support levels and exactly the same happened. Indian Stock Market fell down sharply from Equitypandit’s predicted resistance levels and coincidentally saw lows right at EquityPandit’s predicted support levels of 14035 for Nifty. Finally, Indian Stock Market recovered from day lows but managed to close negative for the day.
Market Today: Indian Stock Market would open positive. Technically, the market is still in a positive zone. Market would enter into a negative zone only if it closes below 14000 levels for Nifty and 31259 levels for BankNifty. Traders should watch levels of 14000 for Nifty on closing basis. If the market manages to close below these levels then traders can initiate fresh short positions but until then traders can either hold long positions or can go long near the support of 14000 levels for Nifty.
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FIIs were net sellers of Rs.483.64 crores whereas DIIs were net sellers of Rs.380.41 crores in the cash market for the last trading session. Nifty would see strong support at 14096-14069-14035-13945 whereas strong resistance would be seen at 14200-14240-14270-14315 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
NSE Nifty: (14146) The support for the Nifty is 14096-14069-14035-13945 and the resistance to the up move is at 14200-14240-14270-14315.
NSE BankNifty: (31798) The support for BankNifty is 31600-31440-31365-31240 and the resistance to the up move is 31880-31965-32075-32215-32340.
BSE Sensex: (48174) The support for the Sensex today is 48035-47954-47865-47770 and the resistance to the up move is at 48270-48380-48515-48608 levels.
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