February 20, 2020 AT 7:54 AM | Abhishek Parakh
Last Trading Session: Indian Stock Market opened positive exactly as predicted by EquityPandit. EquityPandit predicted that market is in negative zone but would see positive movement today. EquityPandit also predicted that traders can go long in the market if it closes above 12084 for Nifty and exactly same happened. Indian Stock market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 30950 for BankNifty like a dot. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open positive. Technically, Nifty entered into positive zone whereas BankNifty is still in negative zone. BankNifty would enter into positive zone once it closes above 30892. Traders can hold long positions for now. Once BankNifty closes above 30892 then bullish trend would be confirmed in the market and traders can add long positions in that case.
Check the Trend Of Major Indices and Stocks
FIIs were net sellers of Rs.190.66 crores whereas DIIs were net buyers of Rs.590.12 crores in cash market for last trading session. Nifty would see strong support at 12100-12070-12035-12000 whereas strong resistance would be seen at 12155-12188-12205-12240 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (12126) The support for the Nifty is 12100-12070-12035-12000 and the resistance to the up move is at 12155-12188-12205-12240 levels.
NSE BankNifty: (30838) The support for BankNifty is 30770-30700-30635-30550 and the resistance to the up move is 30950-31067-31180-31270 levels.
BSE Sensex: (41323) The support for the Sensex is 41270-41180-41110-41025 and the resistance to the up move is at 41440-41518-40600-41660 levels.
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