Market Would Continue To See Positive Rally If Nifty Holds 8478 levels
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that market is still in positive trend and traders should hold long positions until Nifty doesn’t closes below 8478 levels and exactly same happened. Indian Stock Market opened flat but recovered for the day. BankNifty saw strong support near EquityPandit’s predicted support levels of 18880 and recovered from those levels to see highs just near EquityPandit’s predicted resistance levels of 19030. Traders who followed EquityPandit’s advice to hold long positions as of now might have earned decent profits for the day. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Analysis would still remain same. Market would continue to see positive rallies until Nifty holds 8478 levels. Once Nifty breaches levels of 8600-8635 levels, we would see a sharp breakout in the whole Indian Stock Market. Traders should continue to hold long positions until Nifty closes below 8478 levels. Once Nifty closes below these levels, market would enter into negative trend and traders can close all long positions and initiate fresh short positions. Few Corporate Giants would disclose their quarterly results today like ITC, Axis Bank, Kotak Bank and HDFC Bank and these would affect Indian Stock Market direction today.
FIIs were net buyers of Rs.215.21 crores whereas DIIs were net sellers of Rs.45.45 crores in cash market for last trading session. Nifty would see strong support at 8515-8496-8470-8445 whereas strong resistance would be seen at 8580-8605-8635-8659 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 Q1 Results To Be Disclosed Today: ABB India, Ashok Leyland, Axis Bank, Bharat Financial Inclusion, Biocon, City Union Bank, DB Corp, HDFC Bank, Hindalco, ITC, JSW Energy, Kotak Mahindra Bank, Motilal Oswal Financial Services, Raymond, SBBJ and Zensar Technologies.
NSE Nifty: (8566) The support for the Nifty is 8515-8496-8470-8445 and the resistance to the up move is at 8580-8605-8635-8659 levels.
NSE BankNifty: (18968) The support for BankNifty is at 18880-18734-18610-18533 and the resistance to the up move is at 19030-19160-19376-19440 levels.
BSE Sensex: (27915) The support for the Sensex is at 27750-27635-27540-27380 and the resistance to the up move is at 28018-28071-28218 levels.
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