Market Still Positive Until Nifty Holds Above 11350, Continue Long At Dips
Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that the market would see a sharp downfall if BankNifty manages to breach 22000 levels but the market anyhow managed to hold EquityPandit’s predicted support levels for the day and saw a sharp positive rally. Finally, Indian Stock Market managed to close the gap positive for the day.
Market Today: Indian Stock Market would open flat. Technically, Nifty is still in the positive zone but BankNifty is in the negative zone. Indian Stock Market looks positive until Nifty holds above 11350 levels but once Nifty breaches these levels by closing the market would see a sharp downfall in the market. Overall for now, Nifty is in positive trend and traders can also consider BankNifty to see positive movement until Nifty closes below its reversal levels of 11350. BankNifty has witnessed strong support at 22000 and saw a positive rally. Market would see a sharp positive rally if BankNifty also enters into a positive zone by closing above 22824. Overall, traders can go long at every downfall in the market until Nifty holds above 11350.
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FIIs were net buyers of Rs.1170.89 crores whereas DIIs were net sellers of Rs.895.63 crores in the cash market for the last trading session. Nifty would see strong support at 11495-11440-11400-11365 whereas strong resistance would be seen at 11555-11600-11682 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
NSE Nifty: (11522) The support for the Nifty is 11495-11440-11400-11365 and the resistance to the up move is at 11555-11600-11682.
NSE BankNifty: (22466) The support for BankNifty is 22375-22240-22000-21925 and the resistance to the up move is 22600-22660-22745-22850-23035.
BSE Sensex: (39044) The support for the Sensex today is 38865-38740-38660-38500 and the resistance to the up move is at 39075-39240-39380-39440-39606 levels.
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