Market Still Bullish Until 12873 Holds For Nifty, Go Long At Every Dip In The Market
Last Trading Session: Indian Stock Market opened flat for the day and moved sharply negative. EquityPandit predicted that Nifty has entered into a positive zone and thought we would see some profit booking but traders can go long at every dip in the market and exactly the same happened. Indian Stock Market moved sharply negative but saw lows right near 12975 levels for Nifty. Market recovered sharply from day lows as predicted by EquityPandit and traders, who followed EquityPandit’s advice to go long at dips, might have earned huge profits for the day. Finally, Indian Stock Market managed to close flat for the day.
Market Today: Indian Stock Market would open positive. Technically, analysis would still remain the same. Indian Stock Market including Nifty, BankNifty and Sensex are still in positive zone. Market would enter into a negative zone only if it closes below 12873 for Nifty and 29000 for Banknifty but until then the market is in bullish momentum and traders should go long at every dip in the market. Overall, traders can continue to hold long positions until the reversal levels hold and every downfall would be an opportunity to go long in the market.
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FIIs were net buyers of Rs.357.35 crores whereas DIIs were net sellers of Rs.1635.97 crores in the cash market for the last trading session. Nifty would see strong support at 13069-13000-12975-12912 whereas strong resistance would be seen at 13150-13180-13230-13280 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
NSE Nifty: (13114) The support for the Nifty is 13069-13000-12975-12912 and the resistance to the up move is at 13150-13180-13230-13280.
NSE BankNifty: (29463) The support for BankNifty is 29365-29240-29035-28945 and the resistance to the up move is 29660-29740-29815-29880-29955.
BSE Sensex: (44618) The support for the Sensex today is 44515-44365-44240-44075 and the resistance to the up move is at 44815-44880-45035-45110 levels.
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