Market In Positive Zone, Sharp Recovery Would Be Seen
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted BankNifty is near support and traders can initiate long positions in BankNifty. EquityPandit also predicted that market saw lows right near ist major support levels and hence there is strong probability that market would recover sharply and exactly same happened. EquityPandit suggested traders to go long in Nifty with strict stoploss of 6820 levels and traders, who followed EquityPandit’s suggestions might have earned huge profits for the day. Nifty saw highs right near EquityPandit’s predicted resistance levels of 7240 like a dot. Finally, Indian Stock Market closed gap positive for the day with the highest 1-day gain since last 7 years on Sensex.
Today: Indian Stock Market would open gap positive for the day. Technically, BankNifty is still in positive zone and now, Nifty and Sensex also entered into positive zone. Traders can continue long positions as of now. Now, if Global market remains stable than Indian Stock Market would not breach lows of 6820 for Nifty again and we can consider that market has already seen the bottom for this year. As mentioned by EquityPandit in Nifty Outlook for the year 2016, Nifty has already achieved EquityPandit’s targets near 6800 levels. Now, It’s time for Positive rally. BankNifty would achieve the EquityPandit’s targets of 14700-15000 levels in upcoming days. Nifty should also see levels of 7300-7500 in upcoming days. FIIs were net buyers of Rs.2912.59 crores after a long time whereas DIIs were net sellers of Rs.834.59 crores in last trading session. Nifty would see strong support at 7120-7033-6995 whereas strong resistance would be seen at 7280-7300-7323-7380 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: (7222) The support for the Nifty is 7120-7033-6995 and the resistance to the up move is at 7280-7300-7323-7380 levels.
NSE BankNifty: (14413) The support for BankNifty is at 14340-14200-14120-13969 and the resistance to the up move is at 14504-14605-14700-15000 levels.
BSE Sensex: (23779) The support for the Sensex is at 23600-23508-23450-23312 and the resistance to the up move is at 23862-23938-24060-24200 levels.
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