Market In Positive Zone, Go Long At Dips For Now
Last Trading Session: Indian Stock Market opened positive and saw highs right near EquityPandit’s predicted resistance levels of 8310 levels. Sensex also saw highs right at 27000 levels. Finally, market fell down to close negative for the day. Sensex saw lows right at EquityPandit’s levels of 26733 like a dot. BankNifty saw strength and closed positive for the day.
Today: Indian Stock Market would open flat with positive bias. Technically, Market is in positive zone and traders can go long at dips for now. Market would see sideways movement as of now. Upcoming week is full of events like results of IndusInd Bank, Infosys and TCS. Macro Economic data like November Factory Data and December Retail Inflation would also be disclosed this week. Traders can buy at dips with strict stoploss of 8187 levels for Nifty and 17978 levels for BankNifty on closing basis. BankNifty is discounted as of now. 18250 levels are important for BankNifty for now and if BankNifty managed to hold 18250 then we may soon see an upsurge upto 18500 levels on spot basis. BankNifty would see some weakness below 18219 levels on spot basis. Intraday traders can buy above 18280 spot levels and sell below 18219 spot levels for Intraday profits.
FIIs were net sellers of Rs.255.21 crores whereas DIIs were net buyers of Rs.165.29 crores in cash market for last trading session. Nifty would see strong support at 8220-8197-8150-8100 whereas strong resistance would be seen at 8267-8310-8357-8399 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: (8244) The support for the Nifty is 8220-8197-8150-8100 and the resistance to the up move is at 8200-8267-8310-8357-8399 levels.
NSE BankNifty: (18264) The support for BankNifty is at 18220-18150-18060-18000-17940 and the resistance to the up move is at 18320-18490-18588-18690 levels.
BSE Sensex: (26759) The support for the Sensex is at 26695-26597-26500-26450-26380 and the resistance to the up move is at 26809-26950-27060-27128 levels.
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