Some Correction Can Be Seen But Go Long At Every Dip In The Market

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with negative bias. EquityPandit predicted that traders should go long if Nifty breaches levels of 8600. EquityPandit also predicted that Nifty would see next resistance at 8635 and exactly same happened. Market moved positive and breached EquityPandit’s levels of 8600. Breaching 8600 levels for Nifty forced complete market to see a sharp breakout. BankNifty moved sharply positive but saw highs right at EquityPandit’s predicted resistance levels of 19030 like a dot. Nifty also saw 52 weeks high but closed right at EquityPandit’s predicted resistance levels of 8635 like a dot. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open flat. Technically, Now Indian Stock Market is still in Positive trend and BankNifty has again entered into positive zone. Some temporary correction would be seen today after a sharp positive movement yesterday but overall market is positive and traders should go long at every dip in the market. Next target for BankNifty is 19160-19300 levels. Nifty may see immediate resistance at 8665 levels but now there is no major resistance going forward. Any positive news may take Indian Stock Market to new highs.
FIIs were net buyers of Rs.891.01 crores whereas DIIs were net sellers of Rs.67.89 crores in cash market for last trading session. Nifty would see strong support at 8575-8530-8496-8470 whereas strong resistance would be seen at 8665-8707-8741-8775 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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Important Q1 Results To Be Disclosed Today: ACC, Ajanta Pharma, Ambuja Cements, Bajaj Finance, Bajaj Finserv, Bharti Infratel, Coromandel International, Dr. Reddy Laboratories, IDFC Bank, IDFC, Mahindra CIE, Maruti Suzuki, NIIT, Symphony, Tata Elxsi, TVS Motor, United Spirits, Welspun India and Zee Entertainment.

NSE Nifty: (8636) The support for the Nifty is 8575-8530-8496-8470 and the resistance to the up move is at 8665-8707-8741-8775 levels.

NSE BankNifty: (18990) The support for BankNifty is at 18610-18533-18400-18219 and the resistance to the up move is at 19030-19160-19300-19410 levels.

BSE Sensex: (28095) The support for the Sensex is at 27915-27736-27635-27540 and the resistance to the up move is at 28128-28218-28294-28360 levels.

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