Go Long If Nifty Holds 9595, Short Below 9595, FED Interest Rate Policy Tonight
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive. EquityPandit predicted that traders can go short at every rally and long at every dip in the market and exactly same happened. Indian Stock Market saw sharp rally till 9654, near EquityPandit’s predicted resistance levels. Traders, who went short at EquityPandit’s predicted resistance levels as suggested, might have earned huge profits for the day. Nifty fell down sharply from there upto 9595 levels. Sensex saw lows right at EquityPandit’s predicted support levels of 31060 like a dot. BankNifty also saw strong support right near EquityPandit’s predicted support levles of 23440 like a dot. Finally, Indian Stock Market closed flat for the day.
Today: Indian Stock Market would open flat. Technically, Nifty has entered into negative zone but BankNifty is still in positive zone. Interestingly, both Nifty and BankNifty has formed INVERSE HAMMER candlestick pattern with long shadow and this suggest that market would see positive movement from here. It looks like Nifty would hold 9600 levels on closing basis. Traders can go long in Nifty with strict stoploss below 9595 levels on closing basis. If Nifty managed to hold 9600 levels then market would see sharp recovery from here. Traders can initiate short only if Nifty is not able to hold 9600-9595, which is an important support on closing basis. Next support for Nifty is placed at 9580-9570 levels. US FED Interest Rate Policy would be disclosed tonight and it would impact all global markets, so market would remain cautious.
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FIIs were net sellers of Rs.312.40 crores whereas DIIs were net buyers of Rs.304.58 crores in cash market for last trading session. Nifty would see strong support at 9609-9600-9580-9550 whereas strong resistance would be seen at 9650-9684-9705-9715 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: (9607) The support for the Nifty is 9609-9600-9580-9550 and the resistance to the up move is at 9650-9684-9705-9715 levels.
NSE BankNifty: (23478) The support for BankNifty is at 23440-23380-23240 and the resistance to the up move is at 23580-23630-23708 levels.
BSE Sensex: (31103) The support for the Sensex is at 31060-30940-30865 and the resistance to the up move is at 31225-31345-31380-31430-31505 levels.
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