Market Still In Positive Trend, Hold Long Positions For Now
Last Trading Session: Indian Stock Market opened negative for the day. EquityPandit predicted that BankNifty has entered into positive zone and traders can go long at every dip in the market. Indian Stock Market opened gap negative and recovered sharply from there. BankNifty moved sharply positive as predicted. Traders who followed EquityPandit’s advice to go long at dips might have earned huge profits for the day. Nifty saw highs right at EquityPandit’s predicted resistance levels of 9600 like a dot. Finally, Indian Stock Market managed to close gap positive for the day.
Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market including Nifty, BankNifty and Sensex are in positive zone. Market would enter into negative zone only if it closes below 9269 for Nifty and 19986 for BankNifty but until then traders should continue to hold long positions in the market. Market would see further positive movement and surprisingly, upside is now open till 10000 for Nifty and 22000 for BankNifty. So market would continue to witness some strength until it closes below EquityPandit’s predicted reversal levels.
Check the Trend Of Major Indices and Stocks
FIIs were net buyers of Rs.722.08 crores whereas DIIs were net buyers of Rs.786.40 crores in cash market for last trading session. Nifty would see strong support at 9500-9450-9416-9367 whereas strong resistance would be seen at 9600-9651-9730-9800 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Important Results To Be Disclosed Today: Hindustan Unilever, Laurus Labs, Reliance Industries, Security & Intelligence Services and Tech Mahindra.
NSE Nifty: (9553) The support for the Nifty is 9500-9450-9416-9367 and the resistance to the up move is at 9600-9651-9730-9800 levels.
NSE BankNifty: (21090) The support for BankNifty is 20878-20745-20620-20545 and the resistance to the up move is 21240-21465-21715-21862 levels.
BSE Sensex: (32720) The support for the Sensex is 32570-32480-32340-32110 and the resistance to the up move is at 33016-33270-33420-33580 levels.
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