Nifty Sill In Positive Zone, Go Long At Dips Until Nifty Holds 8060 By Closing
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that Nifty entered positive zone and traders can go long in Nifty. EquityPandit also predicted that traders can avoid BankNifty as it would remain in pressure and exactly same happened. Indian Stock Market moved sharply positive but BankNifty remained under pressure. Nifty saw highs right below EquityPandit’s predicted resistance levels of 8200 like a dot and almost achieved EquityPandit’s target of 8200 for Nifty. BankNifty saw lows right at EquityPandit’s predicted support levels of 18180 levels like a dot. Traders, who followed EquityPandit’s advice to go long in Nifty might have earned whopping profits for the day. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market would open flat. Technically, Nifty is still in positive zone. Nifty closed below 8150 levels and hence Market can see some selling pressure. Nifty possess strong support at 8060 levels and closing below these levels can again force Nifty to enter into negative zone. BankNifty is already in negative zone and would see reversal (would enter positive zone) only if it closes above 18651 levels. So, for now traders can go long at dips in Nifty near EquityPandit’s support levels with strict stoploss of 8060 on closing basis. Nifty has witnessed strong resistance at 8200 levels where profit booking was seen. Nifty looks strong for now but due to higher weightage of banking stocks in Nifty, it is seeing profit booking at higher levels. Nifty would see some pressure below 8150 levels. BankNifty would be sell on positive rally until it closes above 18651 levels.
FIIs were net sellers of Rs.715.30 crores whereas DIIs were net buyers of Rs.534.20 crores in cash market for last trading session. Nifty would see strong support at 8100-8050-7997-7975-7935 whereas strong resistance would be seen at 8154-8200-8220-8288 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 Results To Be Disclosed Today: Balkrishna Industries, Gujarat State Petronet Ltd., GVK Power & Infrastructure and Punj Lloyd Ltd.
NSE Nifty: (8142) The support for the Nifty is 8100-8050-7997-7975-7935 and the resistance to the up move is at 8154-8200-8220-8288 levels.
NSE BankNifty: (18223) The support for BankNifty is at 18180-18140-18050-17980 and the resistance to the up move is at 18470-18540-18690-18780 levels.
BSE Sensex: (26394) The support for the Sensex is at 26280-26180-26124-26060 and the resistance to the up move is at 26450-26540-26622-26809 levels.
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