Go Long At Every Dip Until Nifty Holds 7780 Levels
Last Trading Session: Exactly as predicted by EquityPandit that Indian Stock Market would see some further correction but traders should go long at every dip in the market and exactly same happened. Nifty opened flat with positive bias and moved sharply positive. BankNifty saw strong resistance right at Equitypandit’s predicted resistance levels of 16950 like a dot. Market sharply corrected from there. Market managed to recover again and finally closed positive for the day. Traders, who followed EquityPandit’s advice to go long at dips might have earned huge profits for the day.
Today: Indian Stock Market would open negative. Some sharp correction may be seen but it would be temporary until 7780 is not breached on negative side. Technically, Indian Stock Market is still in positive zone. Traders should continue to hold long positions as of now. Every downfall would be an opportunity for traders to go long in the market. Market is looking to see a sharp breakout if closes above 8000 levels for Nifty. Next logical target for Nifty would be 7975-8000 and breaching levels of 8000 would force Nifty to see levels of 8150. Today, Bank of Baroda Results would be disclosed that would direct PSU Bank and even BankNifty on Monday. BankNifty would move sharply positive in days to come, if BOB results are better than expectations as it would force PSU banks to move sharply positive. FIIs were net buyers of Rs.24.14 crores whereas DIIs were net buyers of Rs.258.35 crores in cash market for last trading session. Nifty would see strong support at 7848-7815-7775-7730 whereas strong resistance would be seen at 7926-7980-8005-8080 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 Today: Advanta, Allahabad Bank, Bank Of Baroda, Cadila Healthcare, Capital First, Central Bank Of India, Dena Bank, Edelweiss, IL&FS Transport, Indraprastha Gas, JM Financial, UCO Bank, Union Bank of India and United Breweries.
NSE Nifty: (7900) The support for the Nifty is 7848-7815-7775-7730 and the resistance to the up move is at 7926-7980-8005-8080 levels.
NSE BankNifty: (16924) The support for BankNifty is at 16780-16605-16540-16380 and the resistance to the up move is at 16950-17100-17160 levels.
BSE Sensex: (25790) The support for the Sensex is at 25688-25620-25540-25445 and the resistance to the up move is at 25885-25936-26035-26200 levels.
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