Market Enters Positive Zone, Hold Long Positions and Go Long At Dips
Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that traders can hold long positions until Nifty holds above 10466. EquityPandit also predicted that market would see sharp positive rally above 10620 for Nifty and 26050 levels for BankNifty and exactly same happened. Indian Stock Market moved sharply positive for the day. BankNifty saw strong resistance near EquityPandit’s predicted resistance levels of 26340. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone. Market would continue to see positive rally until it holds above 10555 levels for Nifty and 25918 levels for BankNifty. Overall, market is in positive momentum and traders should go long at every dip in the market. Next logical target for Nifty is set at 10735-10780 for Nifty in days to come and breaching which Nifty would head towards 11000 levels.
FIIs were net buyers of Rs.844.82 crores whereas DIIs were net sellers of Rs.372.24 crores in cash market for last trading session. Nifty would see strong support at 10630-10600-10550-10500 whereas strong resistance would be seen 10705-10740-10780-10820 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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NSE Nifty: (10682) The support for the Nifty is 10630-10600-10550-10500 and the resistance to the up move is at 10705-10735-10780-10820 levels.
NSE BankNifty: (26246) The support for BankNifty is 26180-26100-26078-26000 and the resistance to the up move is at 26340-26380-26438-26518-26660 levels.
BSE Sensex: (35457) The support for the Sensex is at 35325-35260-35200-35130-35070 and the resistance to the up move is at 35585-35660-35738-35888 levels.
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