Nifty Enters Into Positive Zone, Go Long At Dips
Last Trading Session: Indian Stock Market opened flat with positive bias for the day. EquityPandit predicted that market is still in negative zone but now Nifty is near its major support levels and their is strong chance of some bounce from here. EquityPandit also predicted that if Market has to recover then this is the time and exactly same happened. Indian Stock Market moved sharply positive and managed to close above EquityPandit’s reversal levels of 10156 for Nifty. Finally, Indian Stock Market opened gap positive for the day.
Today: Indian Stock Market would open flat with positive bias for the day. Technically, Nifty has entered into positive zone but BankNifty is still in negative zone and would enter into positive zone only if it closes above 25213. Traders are advised to exit all short positions in the market and can initiate fresh long positions at every dip in the market until Nifty holds above 10026 levels on closing basis. BankNifty if managed to close above 25213 in upcoming session then it would add fuel to fire and Indian Stock Market as a whole would see a sharp recovery in days to come. Overall, traders can go long at every dip in the market for now and can add long positions if BankNifty managed to close above 25213 spot levels.
FIIs were net sellers of Rs.1075.62 crores whereas DIIs were net buyers of Rs.926.68 crores in cash market for last trading session. Nifty would see strong support at 10100-10068-10026-9992 whereas strong resistance would be seen at 10194-10237-10266-10300 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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Stocks In F&O Ban Period: HDIL, IRB, JETAIRWAYS and JISLJALEQS.
NSE Nifty: (10167) The support for the Nifty is 10100-10068-10026-9992 and the resistance to the up move is at 10194-10237-10266-10300 levels.
NSE BankNifty: (25057) The support for BankNifty is at 24960-24890-24800-24778 and the resistance to the up move is at 25157-25213-25280-25380 levels.
BSE Sensex: (32949) The support for the Sensex is at 32800-32670-32600 and the resistance to the up move is at 33060-33118-33180-33240 levels.
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