Buy At Dips Until Nifty Holds 8578 By closing
Last Trading Session: Indian Stock Market opened flat with BankNifty opening negative for the day. EquityPandit predicted that market would see sharp correction but traders should buy at dips. EquityPandit also predicted that market would consolidate until GST Bill news comes out and exactly same happened. Major Index like Nifty and Sensex consolidated for the whole day whereas BankNifty moved sharply negative exactly as predicted by equityPandit. Finally, Indian Stock Market closed negative for the day as per EquityPandit’s predictions.
Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market is still in positive trend and traders can hold long positions. Traders who followed EquityPandit’s advice to go long at correction in last trading session would get good opportunity to book profits. Market would still consolidate and the next trigger would be the GST Bill News that would decide the further market direction. Nifty if closes below 8578, then it would enter into negative zone whereas BankNifty would enter into negative trend only once it closes below 18818. So if this happens, then traders should initiate fresh short positions. Until then traders can buy at dips and hold long positions.
FIIs were net sellers of Rs.14.02 crores whereas DIIs were net buyers of Rs.148.34 crores in cash market for last trading session. Nifty would see strong support at 8600-8570-8550-8530-8496 whereas strong resistance would be seen at 8670-8707-8741-8775 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: (8639) The support for the Nifty is 8600-8570-8550-8530-8496 and the resistance to the up move is at 8707-8741-8775-8800 levels.
NSE BankNifty: (18953) The support for BankNifty is at 18880-18610-18533 and the resistance to the up move is at 19070-19160-19300-19410 levels.
BSE Sensex: (28052) The support for the Sensex is at 27915-27736-27660 and the resistance to the up move is at 28294-28340-28530 levels.
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