Market Would Recover After Some Correction, Go Long At Dips
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened Gap Positive for the day. EquityPandit predicted that Indian Stock Market is still in positive zone and bullish in nature. EquityPandit also predicted that traders should go long at dips until Nifty holds 7500 levels and exactly same happened. Nifty opened positive and saw a correction as expected by EquityPandit. Nifty saw strong support near EquityPandit’s predicted support levels of 7500 and recovered sharply from there to see strong resistance just near EquityPandit’s predicted resistance levels of 7620 for Nifty. BankNifty also saw highs right at EquityPandit’s predicted resistance levels of 15680 like a dot. Coincidentally Sensex also saw highs right at EquityPandit’s predicted resistance levels of 24988 like a dot. Traders, who followed EquityPandit’s advice might have earned whooping profits for the day. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open flat with negative for the day. Technically, Indian Stock Market is still in positive zone. Now, next target for Nifty is 7700. Some correction would be seen but traders should continue to go long at every dip in the market. US Market Index, Dow Jones also managed to close above 17500 levels i.e. above its monthly changeover levels. if Dow manage to close this month above 17500, then we would see sharp recovery in Indian Stock Market and we would never see 52 week low levels again in this year in Indian Stock Market. For now, the only strategy for traders is to go long at every dip in the market and investors should accumulate fundamentally strong companies at discounted prices. FIIs were again net buyers of whooping Rs.1712.62 crores whereas DIIs were net sellers of Rs.403.37 crores in last trading session. Nifty would see strong support at 7564-7500-7465 whereas strong resistance would be seen at 7620-7663-7700-7788 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: (7604) The support for the Nifty is 7564-7500-7465 and the resistance to the up move is at 7620-7663-7700-7788 levels.
NSE BankNifty: (15655) The support for BankNifty is at 16500-15365 and the resistance to the up move is at 15680-15803-15956-16020 levels.
BSE Sensex: (24953) The support for the Sensex is at 24834-24680-24550 and the resistance to the up move is at 24988-25060-25120-25280 levels.
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