Market To Open Positive, Go Long Until Nifty Holds 6975 Levels By Closing
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that we may again see some positive movement but overall market would be rangebound. EquityPandit also predicted that traders can go long near 14000 levels and short near 14600 levels as of now and exactly same happened. Indian Stock Market opened positive, then fell down and then saw a short covering again. Overall Market remained rangebound as per EquityPandit’s predictions. BankNifty closed right on EquityPandit’s predicted support levels of 14120 like a dot. Sensex also saw strong support exactly near EquityPandit’s predicted support levels of 23910 like a dot. Finally, Indian Stock Market closed positive for the day with some pressure on BankNifty.
Today: Indian Stock Market to open gap positive for the day. Technically, Indian Stock Market is still in positive zone. Oil rose sharply yesterday and thus the US Markets. Today, Indian Stock Market would see positive movement and traders, who might have gone long yesterday near 14000 levels as per EquityPandit’s suggestions might get good chance to book huge profits. Traders can hold long positions until Nifty Holds 6975 levels and BankNifty Holds 13965 levels by closing. Profits should be booked near 7225 levels for Nifty and around 14500-14600 levels for BankNifty. FIIs were net sellers of Rs.560 crores whereas DIIs were net buyers of Rs.384.53 crores in last trading session. Nifty would see strong support at 7100-7058-6995-6868 whereas strong resistance would be seen at 7205-7228-7280-7323 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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NSE Nifty: (7108) The support for the Nifty is 7100-7058-6995-6868 and the resistance to the up move is at 7205-7228-7280-7323 levels.
NSE BankNifty: (14120) The support for BankNifty is at 14120-13969-13800 and the resistance to the up move is at 14322-14504-14588-14700 levels.
BSE Sensex: (23382) The support for the Sensex is at 23200-23020-22910-22800 and the resistance to the up move is at 23475-23600-23759 levels.
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