Market May See Some Profit Booking But Go Long At Dips Until Nifty Holds Above 11425
Last Trading Session: Indian Stock Market opened flat as predicted by EquityPandit. EquityPandit predicted that the market is still positive until Nifty holds above 11350 and traders should go long at every dip in the market and exactly the same happened. Indian Stock Market saw some profit booking after the flat opening but managed to recover sharply. BankNifty saw highs right at EquityPandit’s predicted resistance levels of 22660 like a dot. Traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed the gap positive for the day.
Market Today: Indian Stock Market would open negative. Technically, Nifty is still in the positive zone but BankNifty is in the negative zone. Analysis still remains the same. The Nifty would enter into the negative zone if it closes below 11425 whereas BankNifty would enter into the positive zone if it closes above 22824. For now, traders can go long at dips until Nifty holds above 11425. Market may open with a negative note, traders can go long near EquityPandit’s predicted support levels. Traders should initiate a fresh short position only if it closes below 11425 but until then every downfall would be an opportunity to go long in the market. If BankNifty manages to close above 22824 in upcoming days then we would see a sharp rally in the market.
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FIIs were net buyers of Rs.264.66 crores whereas DIIs were net sellers of Rs.212.21 crores in the cash market for the last trading session. Nifty would see strong support at 11559-11515-11495-11440 whereas strong resistance would be seen at 11649-11682-11707-11800 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
NSE Nifty: (11605) The support for the Nifty is 11559-11515-11495-11440 and the resistance to the up move is at 11649-11682-11707-11800.
NSE BankNifty: (22574) The support for BankNifty is 22440-22375-22240-22000 and the resistance to the up move is 22660-22745-22850-23035.
BSE Sensex: (39303) The support for the Sensex today is 39113-39035-39940-38865-38740 and the resistance to the up move is at 39380-39440-39606-39660 levels.
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