Some Profit Booking To Be Seen But Continue Long Until Nifty Above 18018 And BankNifty Above 38049
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Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that the Indian Stock Market is still in a positive zone and traders can continue to hold long positions in the market and the same happened. Indian Stock Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 18270 like a dot. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market will open negative. Technically, the Indian Stock Market is still in a positive zone. Some profit booking would be seen but market would be considered bearish and would enter into the negative zone only if it closes below 18018 for Nifty and 38049 for BankNifty. Until then the market would be considered bullish and traders can continue to hold long positions.
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FIIs were net sellers of Rs.1390.85 crores whereas DIIs were net buyers of Rs.1065.32 crores in the cash market for the last trading session. Nifty would see strong support at 18170-18110-18035-17950 whereas strong resistance would be seen at 18315-18385-18440-18508 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (18258) The support for the Nifty is 18170-18110-18035-17950 and the resistance to the up move is at 18315-18385-18440-18508 levels.
NSE BankNifty: (38470) The support for Bank Nifty is 38215-38075-38025-37945-37815 and the resistance to the up move is 38660-38718-38880-38940 levels.
BSE Sensex: (61235) The support for the Sensex is 61075-61940-60815-60707 and the resistance to the up move is 61540-61652-61770-61888 levels.
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