Market Today: Indian Stock Market would open flat. Technically, Nifty is in the negative zone but is still in the positive zone. BankNifty would also enter into the negative zone if it closes below 23703 whereas Nifty would enter again into the positive zone only if it closes above 11617. Market would still see sideways movement until Nifty and BankNifty are in opposite zones. Traders are suggested to wait until the confirmation of the trend. If Nifty closes above 11617 then traders can initiate fresh long in the market and if BankNifty closes below 23703 then traders can initiate fresh short positions but until then trade with very small quantities. Traders and Investors can analyze any stock themselves just in a few minutes with StockFact, a free but most powerful analysis tool by EquityPandit.
FIIs were net buyers of Rs.486.09 crores whereas DIIs were net sellers of Rs.775.23 crores in the cash market for the last trading session. Nifty would see strong support at 11430-11400-11365-11300 whereas strong resistance would be seen at 11500-11555-11600-11682 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
NSE Nifty: (11470) The support for the Nifty is 11430-11400-11365-11300 and the resistance to the up move is at 11500-11555-11600-11682.
NSE BankNifty: (23812) The support for BankNifty is 23658-23550-23465-23330-23240 and the resistance to the up move is 24075-24200-24270-24440.
: (38901) The support for the Sensex is 38785-38660-38500-38340 and the resistance to the up move is at 39075-39240-39380-39465 levels.