Go Long at Every Dip in the Market Until RBI Policy
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day with 53 points for Nifty, 162 points for Sensex and 163 points for BankNifty. EquityPandit predicted that market has entered into negative zone but market would see sharp recovery for the day and exactly same happened. Market opened gap positive and eased. Market saw positive rally backed by FED stance on Rate Hike. The news of Vijay Mallya agreeing to pay Rs.4000 crores to lenders boosted the Banking sector that forced whole market to move sharply positive. F&O Expiry short covering rally also played its role and forced market to move further positive. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open flat. Surprisingly, Indian Stock Market including Nifty, BankNifty and Sensex, saw reversal and entered into positive zone again just in 1 day. This is a big bullish sign for the market. Yes, we would see some correction today but every correction for now would be an opportunity for traders to go long. Traders should go long at every dip in the market until RBI Policy day. Some sharp volatility would be seen today due to F&O Expiry. Traders should rollover long positions in Index future for next month. US Index Dow Jones would also manage to close in monthly positive trend after couple of months and it would further support Indian Stock Market positive trend. FIIs were again net buyers of Rs.1442.47 crores whereas DIIs were net sellers of Rs.396.90 crores in last trading session. Nifty would see strong support at 7675-7645-7600-7564 whereas strong resistance would be seen at 7780-7805-7855-7888 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Click Here to Check the Trend Of Major Indices and Stocks
NSE Nifty: (7735) The support for the Nifty is 7675-7645-7600-7564 and the resistance to the up move is at 7780-7805-7855-7888 levels.
NSE BankNifty: (16135) The support for BankNifty is at 16012-15933-15819-15760 and the resistance to the up move is at 16200-16258-16380-16500 levels.
BSE Sensex: (25339) The support for the Sensex is at 25200-25110-25012-24950 and the resistance to the up move is at 25382-25572-25660-25831 levels.
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