Continue Long Positions Until Nifty Holds Above 14147 And BankNifty Above 31696 By Closing
Last Trading Session: Indian Stock Market opened gap positive exactly as predicted by EquityPandit. EquityPandit predicted the market is still bullish and traders should initiate short positions only if Nifty closes below 14052 but until then traders and investors should hold long positions in the market and exactly the same happened. Indian Stock Market moved sharply positive for the day. 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 positive. Technically, analysis would remain the same and Indian Stock Market is still in the positive zone. Market would see reversal only if it closes below 14147 for Nifty and 31696 for BankNifty but until then traders should ride the tide and hold long positions in the market. Overall market is bullish for now and traders and investors should continue to hold long positions. Once market closes below the reversal levels of 14147 for Nifty and 31696 for BankNifty then traders can close long positions and initiate fresh short positions. Following the levels and trading accordingly would always keep you in the right direction of the trend.
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FIIs were net buyers of Rs.6029.83 crores whereas DIIs were net sellers of Rs.2372.54 crores in the cash market for the last trading session. Nifty would see strong support at 14270-14215-14110-14025 whereas strong resistance would be seen at 14365-14440-14506 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
NSE Nifty: (14347) The support for the Nifty is 14270-14215-14110-14025 and the resistance to the up move is at 14365-14440-14506.
NSE BankNifty: (32084) The support for BankNifty is 32000-31880-31770-31600-31440 and the resistance to the up move is 32215-32340-32506.
BSE Sensex: (48783) The support for the Sensex today is 48660-48506-48440-48365 and the resistance to the up move is at 49075-49170-49315-49380 levels.
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