Go Long At Dips Until Nifty Holds 9750 On Closing Basis
Last Trading Session: Indian Stock Market opened gap positive for the day as per EquityPandit predictions. EquityPandit predicted that Indian Stock Market would open positive and 9860-9885 would be major resistace zone for Nifty and exactly same happened. Indian Stock Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 9860 for Nifty. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market to open flat. Technically, Indian Stock Market is still in negative zone. BankNifty would enter into positive zone once it closes above 24351 whereas Nifty would enter into positive zone if it closes above 9901 levels. Nifty would also see some immediate resistance in 9860-9885 zone but overall market looks to continue positive momentum. Nifty is in initial stage of forming Double Bottom Pattern and this suggests that if Nifty closes above 9950 then it would see new highs in days to come. Market may see some pressure as US President Trump threatens government shutdown that saw drop in US Index Dow Jones Industrial Average by around 88 points yesterday but Traders can go long at dips in the market until Nifty holds above 9750 levels on closing basis. Closing below 9750 would initiate a big downfall.
FIIs were net sellers of Rs.1157.52 crores whereas DIIs were net buyers of Rs.929.84 crores in cash market for last trading session. Nifty would see strong support at 9785-9750-9710-9685 whereas strong resistance would be seen at 9860-9885-9911-9928 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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Stocks In F&O Ban Period: DLF, GMR Infra, HDIL, Indiabulls Real Estate, JP Associate, JSW Energy and Justdial.
NSE Nifty: (9853) The support for the Nifty is 9785-9750-9710-9685 and the resistance to the up move is at 9860-9885-9911-9928 levels.
NSE BankNifty: (24317) The support for BankNifty is at 24234-24170-24066-23925 and the resistance to the up move is at 24460-24535-24625-24720 levels.
BSE Sensex: (31568) The support for the Sensex is at 31470-31420-31340-31265 and the resistance to the up move is at 31688-31770-31860-31938 levels.
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