Market Would See Positive Bounceback, Go Long If BankNifty Closes Above 14180
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that Market would see a bounce back and traders can go short at every positive rally and exactly same happened. Market opened gap positive but fell down sharply as predicted by EquityPandit. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. BankNifty also saw strong support exactly near EquityPandit’s predicted support levels of 13800 like a dot. Finally, Indian Stock Market saw a bounce back from EquityPandit’s predicted support levels and closed almost flat for the day.
Today: Indian Stock Market to open gap positive for the day. Technically, Indian Stock Market is still in positive zone. Nifty possess strong support at 6820 and there are strong chances that it sees some sharp bounceback before breaching those levels. Traders should wait for Market to see a bounceback (Positive Rally) and then can go short at those levels but should take care that BankNifty would enter into positive zone once it closes above 14180 levels. Traders should initiate fresh long positions in BankNifty, if it closes above 14180 levels. FIIs were net sellers of Rs.398.37 crores whereas DIIs were net buyers of Rs.545.07 crores in last trading session. Nifty would see strong support at 6869-6820-6700 whereas strong resistance would be seen at 7090-7200 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 Results to be disclosed today: Titagarh Wagons.
NSE Nifty: (6981) The support for the Nifty is 6869-6820-6700 and the resistance to the up move is at 7090-7200 levels.
NSE BankNifty: (13971) The support for BankNifty is at 13800-13660-13500-13200 and the resistance to the up move is at 14208-14323-14475-14530 levels.
BSE Sensex: (22986) The support for the Sensex is at 22780-22600-22440-22312 and the resistance to the up move is at 23204-23335-23510 levels.
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