Overall Market Positive, Buy On Dips and Book Partial Profits On Rally.
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that Traders should lighten up their long position and buy again at dips and exactly same happened. Market opened gap positive and corrected. Traders who followed EquityPandit’s advice to book profits at higher levels might have again got the good chance to enter at lower levels. Nifty was not able to close above EquityPandit’s predicted resistance levels of 8250 and fell down. Sensex also saw strong resistance right near EquityPandit’s predicted resistance levels of 27000. Finally, Indian Stock Market closed flat for the day with some strength in BankNifty.
Today: Indian Stock Market would open flat with positive bias. Technically, Indian Stock Market is still in positive zone. Finally, EquityPandit’s targets of 8250 got achieved for Nifty. Now Nifty would see some resistance in these levels and may see some temporary correction. Now Nifty needs to close above 8250 to see levels of 8294-8336 in upcoming sessions, where some strong resistance would be faced. BankNifty would also face strong resistance in the range of 17950-18029. Overall Market is positive and traders should book partial profits at higher levels and buy again at dips to gain higher profits as market would move positive in cycles. FIIs were net buyers of Rs.1585 crores whereas DIIs were net sellers of Rs.393.21 crores in cash market for last trading session. Nifty would see strong support at 8200-8165-8098 whereas strong resistance would be seen at 8272-8294-8332-8385 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: (8221) The support for the Nifty is 8200-8165-8098 and the resistance to the up move is at 8272-8294-8332-8385 levels.
NSE BankNifty: (17681) The support for BankNifty is at 17620-17470-17330 and the resistance to the up move is at 17760-17827-17952-18029 levels.
BSE Sensex: (26843) The support for the Sensex is at 26720-26540-26300 and the resistance to the up move is at 26940-27030-27195 levels.
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