Continue Holding Long Positions and Buy At Dips
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that market is in positive trend and traders should go long at every dip in the market. EquityPandit also predicted that Market is ready to see Inverse Head and Shoulder Breakout and exactly same happened. EquityPandit was the first company to predict this breakout in BankNifty at 16450 levels and Nifty at 7750 levels. Traders, who followed EquityPandit’s advice to go long might have earned whopping profits in last 2 days. Nifty saw highs right at EquityPandit’s predicted resistance levels of 8080 like a dot. BankNifty also closed right below EquityPandit’s predicted resistance levels of 17370 like a dot. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Market may see some profit booking today due to new contract but that would be temporary in nature. Overall Market has seen a breakout and we would see sharp positive movements in days to come. Next target is 8150-8250 for Nifty and 17500 for BankNifty. If global cues support then this positive movement would continue till 8500 levels for Nifty and 18000 levels for BankNifty. The only strategy for the traders should be to hold long positions or initiate fresh long positions at every dip in the market. Today, SBI would disclose its quarterly results and it would affect the complete PSU Banking Sector. FIIs were net buyers of Rs.581.29 crores whereas DIIs were net buyers of Rs.685.37 crores in cash market for last trading session. Nifty would see strong support at 8005-7991-7959-7900 whereas strong resistance would be seen at 8086-8128-8180-8250 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: BEML Ltd, Bharat Electronics, BHEL, BBTC, Central Bank Of India, DB Realty, DLF, EROS International, HPCL, Indian Oil Corporation, Indian Overseas Bank, Jaiprakash Power, MMTC, Muthoot Finance, NMDC, Oil India, PunjLloyd, PVR, Reliance Power, Religare Enterprises, REC Ltd, SJVN, SBI, Sun TV, Suven Life Sciences, Tata Communications, Thomas Cook and Uflex.
NSE Nifty: (8070) The support for the Nifty is 8005-7991-7959-7900 and the resistance to the up move is at 8086-8128-8180-8250 levels.
NSE BankNifty: (17359) The support for BankNifty is at 17195-17050-16960-16875 and the resistance to the up move is at 17480-17570-17652-17827 levels.
BSE Sensex: (26367) The support for the Sensex is at 26215-26128-26060-26950 and the resistance to the up move is at 26471-26687-26822 levels.
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