Market Ready For A Positive Breakout, Go Long At Every Dip
Last Trading Session: Indian Stock Market opened positive for the day. Market moved sharply positive and entered into positive trend. Sensex saw strong resistance right at EquityPandit’s predicted resistance levels of 28120. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market has entered into positive trend and traders can go long at every dip in the market. Indian Stock Market ready to see a positive breakout now and there are strong chances of market creating new 52 weeks high. Some correction would be seen at every positive rally but every correction would be an opportunity for traders to go long and earn handsome profits. For now, trade is to go long in Nifty, BankNifty and frontline stocks. 8600 would act as strong support for Nifty as of now.
FIIs were net buyers of Rs.435.63 crores whereas DIIs were net buyers of Rs.616.32 crores in cash market for last trading session. Nifty would see strong support at 8600-8570-8550-8530 whereas strong resistance would be seen at 8707-8741-8775-8800 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
Important Q1 Results To Be Disclosed Today: Britannia Industries, Colgate Palmolive, Hero Motocorp, Idea Cellular, Inox Leisure, Max Financial Services, Mcleod Russel, Polaris Consulting, Schneider Electric Infrastructure, Sonata Software and SRF Ltd.
NSE Nifty: (8683) The support for the Nifty is 8600-8570-8550-8530 and the resistance to the up move is at 8707-8741-8775-8800 levels.
NSE BankNifty: (18926) The support for BankNifty is at 18825-18610-18533-18400-18218 and the resistance to the up move is at 19070-19160-19300 levels.
BSE Sensex: (28078) The support for the Sensex is at 27950-27870-27736-27660 and the resistance to the up move is at 28120-28294-28340-28500 levels.
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