Hold Long Positions For Nifty, Targets 7926-7980, Closing Stoploss Of 7780
Last Trading Session: Indian Stock Market opened flat for the day. Market moved sharply negative as predicted by EquityPandit. Nifty breached the levels of 7780 with just a small momentum but was not able to sustain below those levels and recovered sharply. EquityPandit suggested traders to hold long positions until Nifty closes below 7780 and exactly same happened. Traders who followed EquityPandit’s advice to hold long positions or go long at supports might have earned whopping profits for the day. Sensex saw highs right at EquityPandit’s predicted resistance levels of 25688 like a dot. Finally, Market closed gap positive for the day.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone. Nifty is strongly holding 7780 levels by closing. It would still be considered as strong support to work with. Traders can hold long positions with strict stoploss of 7780 levels by closing. Next logical targets for Nifty would be 7926-7980 levels which would be the strong resistance for Nifty. Breaching levels of 8000 by closing would force market to see sharp breakout from the current range. FIIs were net sellers of Rs.79.84 crores whereas DIIs were net sellers of Rs.127.91 crores in cash market for last trading session. Nifty would see strong support at 7815-7780-7730-7715 whereas strong resistance would be seen at 7896-7926-7980 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: Bharat Forge, GlaxoSmithKline, Gujarat Gas, Honeywell Automation, Mahindra Holidays, Motherson Sumi, Symphony, Syndicate Bank, United Bank Of India and Voltas Ltd.
NSE Nifty: (7861) The support for the Nifty is 7815-7780-7730-7715 and the resistance to the up move is at 7896-7926-7980 levels.
NSE BankNifty: (16738) The support for BankNifty is at 16605-16518-16380-16190 and the resistance to the up move is at 16890-16950-17100-17160 levels.
BSE Sensex: (25653) The support for the Sensex is at 25578-25500-25445-25228 and the resistance to the up move is at 25688-25885-25956-26060 levels.
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