BankNifty Enters Positive Zone, Market To Turn Bullish If Nifty Closes Above 11335
Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that though market is bearish but traders can go long near EquityPandit’s predicted support with stoploss below 11000 for intraday and exactly same happened. Nifty saw lows exactly near EquityPandit’s predicted support levels of 11100 and moved sharply from there giving whopping profits to Intraday traders, who followed EquityPandit’s advice. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open negative. Technically, BankNifty has entered into positive zone whereas Nifty is still in negative zone. Nifty would enter into positive zone once it closes above 11335. BankNifty has already seen channel breakout whereas Nifty is about to see a breakout from the channel. Traders can initiate fresh long positions now at every dip in the market and take long positions home if Nifty closes above 11335 as market would see sharp positive rally if this happens. If Nifty manages to trade above 11335 then next target would be around 11385-11500 in upcoming days.
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FIIs were net sellers of Rs.485.24 crores whereas DIIs were net buyers of Rs.956.26 crores in cash market for last trading session. Nifty would see strong support at 11300-11274-11235-11165 whereas strong resistance would be seen at 11390-11430-11455-11480 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (11313) The support for the Nifty is 11300-11274-11235-11165 and the resistance to the up move is at 11390-11430-11455-11480 levels.
NSE BankNifty: (28786) The support for BankNifty is 28600-28550-28488-28353 and the resistance to the up move is 28880-28940-29075-29145-29205 levels.
BSE Sensex: (38178) The support for the Sensex is 38035-37956-37880-37820-37740 and the resistance to the up move is at 38254-38370-38402-38488 levels.
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