Market To Open Gap Negative, Go Long At Every Dip

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that Indian Stock Market would consolidate at this point of time and may see some re-bounce but traders should go short at every positive rally. Market rebounced and entered into luckily entered into positive zone. Nifty closed right near EquityPandit’s predicted levels of 8205 in positive territory. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open Negative. Technically, Indian Stock Market has entered into positive zone after a short correction which was predicted by EquityPandit couple of days back. Today, some more correction can be seen after the US FED Remarks but trade for now is to go long at dips. Now, 8300 is an important level for Nifty to look out for. It looks that the required correction has been done and Market is ready to complete a bullish Inverse Head and Shoulder Pattern that may take Nifty to around 8350-8500 levels. Once Nifty breaches levels of 8300, it would see a sharp breakout. Traders should now go long at every dip in the market. Every correction would be an opportunity to go long in Nifty and BankNifty. BankNifty would see immediate resistance at 18000 levels on closing basis, breaching which, it would see a sharp breakout. FIIs were net sellers of Rs.108.23 crores whereas DIIs were net buyers of Rs.234.10 crores in cash market for last trading session. Nifty would see strong support at 8200-8165-8098-8060 whereas strong resistance would be seen at 8252-8294-8336-8385 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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NSE Nifty: (8207) The support for the Nifty is 8200-8165-8098-8060 and the resistance to the up move is at 8252-8294-8336-8385 levels.

NSE BankNifty: (17918) The support for BankNifty is at 17800-17760-17620-17470 and the resistance to the up move is at 18000-18052-18139-18313 levels.

BSE Sensex: (26726) The support for the Sensex is at 26720-26600-26540-26300 and the resistance to the up move is at 26822-26940-27030-27195 levels.

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