Market Ready To See Record Highs, Hold Long Positions For Now
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that there is a strong chance of recovery from here and traders can go long with strict stoploss of 9560 and exactly same happened. Indian Stock Market moved sharply positive after opening and achieves EquityPandit’s target of 9645 for Nifty. Nifty saw highs of 9673 levels for the day and traders, who followed EquityPandit’s advice might have earned huge profits for the day. BankNifty closed right below EquityPandit’s predicted resistance levels of 23745 like a dot. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open flat with positive bias. Technically, Indian Stock Market, including Nifty, BankNifty and Sensex has entered into positive zone. Traders can continue to hold long positions as market is expected to make new record highs in days to come. Next target for Nifty is set to 9684-9700-9715 levels. Breaching 9710 would force Nifty to move towards next logical target of 9800 levels. Traders can go long at dips until Nifty holds 9585 levels on closing basis.
FIIs were net sellers of Rs.764.48 crores whereas DIIs were net buyers of Rs.890.91 crores in cash market for last trading session. Nifty would see strong support at 9620-9585-9560-9520 whereas strong resistance would be seen at 9685-9700-9710-9725 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: (9658) The support for the Nifty is 9620-9585-9560-9520 and the resistance to the up move is at 9685-9700-9710-9725 levels.
NSE BankNifty: (23742) The support for BankNifty is at 23590-23545-23475-23380 and the resistance to the up move is at 23800-23880-23945-24060 levels.
BSE Sensex: (31312) The support for the Sensex is at 31163-31025 and the resistance to the up move is at 31380-31430-31505 levels.
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