Buy On Dips And Hold Long Positions For Now, Infy Results Today

Last Trading Session: Indian Stock Market opened negative for the day as predicted by EquityPandit. EquityPandit predicted that market would see some profit booking (negative movement) but traders should go long at every dip in the market and exactly same happened. Indian Stock Market saw sharp downfall while opening but recovered smartly to close positive for the day. Traders who followed EquityPandit’s advice to go long at dips might have earned huge profits for the day.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone. Analysis would remain same and traders should continue to hold long positions or go long at every dip in the market. Now, 10400 would act as immediate support for Nifty. Traders can continue to hold long until Nifty holds above 10400 levels on closing basis. As we said yesterday that once Nifty manages to close above its initial resistance of 10550 then the rally could extend upto 10750-10845 levels. Indian Market can consolidate in this zone but overall market is in positive trend and traders can continue to go long at every dip in the market near EquityPandit’s predicted support levels. IT Giant Infosys would disclose its quarterly results today and would affect Indian Stock Market direction for the day.

FIIs were net buyers of Rs.67.86 crores whereas DIIs were net buyers of Rs.294.78 crores in cash market for last trading session. Nifty would see strong support at 10450-10400-10380-10325 whereas strong resistance would be seen 10557-10632-10662-10705 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Quarterly Results To Be Declared Today: CRISIL, Federal Bank, Hero MotoCorp, Infosys, Jammu & Kashmir Bank and Mahindra CIE Automotive.

Stocks In F&O Ban Period: ADANIPOWER and IDBI.

NSE Nifty: (10513) The support for the Nifty is 10450-10400-10380-10325 and the resistance to the up move is at 10557-10632-10662-10705 levels. levels.

NSE BankNifty: (25388) The support for BankNifty is 25210-25145-25070-24960 and the resistance to the up move is at 25480-25532-25675-25835 levels.

BSE Sensex: (34865) The support for the Sensex is at 34660-34580-34500-34400 and the resistance to the up move is at 35008-35075-35240-35438 levels.

Note:  If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

Premium Subscription Pricing details can be seen at Stock Market Premium Services