Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that the market is consolidating for now and once Nifty breaches 13082, the market would continue to see bullish momentum in that case and traders can initiate fresh long positions. Indian Stock Market moved sharply positive and managed to close above the reversal levels for Nifty. Finally, Indian Stock Market closed the gap positive for the day. Sensex closed right below EquityPandit’s predicted resistance levels of 44660.
Market Today: Indian Stock Market would open negative. Technically, BankNifty was already in the positive zone and yesterday Nifty also entered into the positive zone by closing above 13082. Some profit booking can be seen but overall the market is bullish and traders can go long at dips and continue to hold long positions for now. Market is expected to see new record highs and every downfall in the market would be an opportunity to go long in the markets until it holds above 12866 for Nifty and 29022 for BankNifty.
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FIIs were net buyers of Rs.3242 crores whereas DIIs were net sellers of Rs.1043.21 crores in the cash market for the last trading session. Nifty would see strong support at 13069-13000-12975-12912 whereas strong resistance would be seen at 13150-13180-13230-13280 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
NSE Nifty: (13109) The support for the Nifty is 13069-13000-12975-12912 and the resistance to the up move is at 13150-13180-13230-13280.
NSE BankNifty: (29818) The support for BankNifty is 29715-29606-29515-29365 and the resistance to the up move is 29954-30035-30180-30270-30380.
BSE Sensex: (44655) The support for the Sensex today is 44515-44365-44240-44075 and the resistance to the up move is at 44815-44880-45035-45110 levels.
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