Indian Market Still Bullish Until It Holds Above 11980
Last Trading Session: Indian Stock Market opened gap positive. MystockMoney predicted that market is bullish and traders can go long at every dip in the market and exactly the same happened. Indian Stock Market opened gap positive but saw strong resistance at MystockMoney’s predicted resistance levels of 41180 for Sensex and was not able to sustain higher levels. BankNifty saw record highs today as predicted. Market saw sharp profit booking from there. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone and traders should continue to go long at dips in the market until it holds above 11980 for Nifty and 31600 for BankNifty. Market may see some profit booking as it is near lifetime highs but overall market is bullish and traders should go long at every dip in the market until it holds above the MystockMoney predicted reversal levels.
FIIs were net buyers of Rs.728.13 crores whereas DIIs were net sellers of Rs.796.38 crores in cash market for last trading session. Nifty would see strong support at 12035-12000-11940-11905 whereas strong resistance would be seen at 12105-12150-12188-12240 levels. Since, MystockMoney’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Nifty: (12054) The support for the Nifty is 12035-12000-11940-11904 and the resistance to the up move is at 12108-12154-12194-12240 levels.
BankNifty: (31974) The support for BankNifty is 31860-31730-31600-31500 and the resistance to the up move is 32136-32240-32390-32460 levels.
PCR at 1.43 VIX 13.42
Still in F&O Ban: Yes Bank
Positive: Metals n PSU buy on dips, Pharma
Buy NIIT Tech Futures:
SL 1465 TARGET 1495, 1510,1528,1548
Board Meet on 23rd Dec. to consider Buyback
Buy Kotak Mahindra Bank Futures:
SL 1695 Tgt 1720, 1730
Strong stock, Morgan Stanley raises the target to 1900/-