Nifty Enters Into Positive Zone, BankNifty Also Bullish If Closes Above 33932
Last Trading Session: Indian Stock Market opened positive exactly as predicted. EquityPandit predicted that the market would see sharp recovery and would enter into a positive zone if it closes above 14696 for Nifty and exactly the same happened. Indian Stock Market moved sharply positive for the day as predicted and finally closed gap positive for the day.
Today: Indian Stock Market would open negative. Technically, Nifty has already entered into positive zone while BankNifty is still in negative zone. BankNifty would enter into a positive zone today once it closes above 33932 for BankNifty. Market looks bullish for now and can test levels of 15000 for Nifty where it would see its psychological resistance. Traders can take long positions home if BankNifty closes above 33932 with next logical targets of 35000 for BankNifty.
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FIIs were net buyers of Rs.769.47 crores whereas DIIs were net buyers of Rs.2181.01 crores in the cash market for the last trading session. Nifty would see strong support at 14815-14740-14707-14608 whereas strong resistance would be seen at 14880-14945-15035-15080 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (14845) The support for the Nifty is 14815-14740-14707-14608 and the resistance to the up move is at 14880-14945-15035-15080 levels.
NSE BankNifty: (33875) The support for BankNifty is 33700-33580-33515-33365-33240 and the resistance to the up move is 34075-34170-34315-34506 levels.
BSE Sensex: (50137) The support for the Sensex is 49880-49715-49540-49365 and the resistance to the up move is at 50395-50515-50770-50890-51035 levels.
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