Market to see further Positive Momentum, Hold Long Positions Until 8500 Holds For Nifty
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with negative bias. EquityPandit predicted that market would consolidate before further positive rally but traders should go long at every dip in the market and exactly same happened. BankNifty outperformed Nifty as predicted by EquityPandit. Market consolidated for few hours of trading session and then saw a sharp positive movement. Traders who followed EquityPandit’s advice might have earned huge profits for the day. Market closed right at EquityPandit’s predicted resistance levels of 8567 for Nifty and 27950 for Sensex like a dot. BankNifty also saw strong resistance right at EquityPandit’s predicted resistance levels of 18888 like a dot. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone. Market would see further positive momentum. Nifty posses final strong resistance at 8635, closing above these levels would force market to see new highs in days to come. 8500 would act as very strong support for Nifty, so traders can hold long positions with stoploss below 8500 levels for Nifty.
FIIs were net buyers of Rs.869.84 crores whereas DIIs were net sellers of Rs.874.15 crores in cash market for last trading session. Nifty would see strong support at 8540-8496-8470-8445 whereas strong resistance would be seen at 8580-8605-8635-8659-8670 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: (8565) The support for the Nifty is 8540-8496-8470-8445 and the resistance to the up move is at 8580-8605-8635-8659-8670 levels.
NSE BankNifty: (18864) The support for BankNifty is at 18734-18610-18533 and the resistance to the up move is at 19008-19110-19376-19440 levels.
BSE Sensex: (27942) The support for the Sensex is at 27890-27760-27635-27540 and the resistance to the up move is at 28018-28071-28218-28340 levels.
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