Market Still Bullish, Continue Long Until Nifty Holds Above 17458 Levels
Last Trading Session: Indian Stock Market opened flat as predicted. EquityPandit predicted that the market is still in a positive zone and traders should continue to hold long positions in the market and exactly the same happened. The Indian Stock Market moved sharply positive as predicted. Traders who followed EquityPandit’s advice might have earned huge profits for the day. EquityPandit is continuously suggesting traders to hold long positions in Nifty since July 23, 2021 at Nifty levels of 15824 and now Nifty has given whopping profits of around 1800 points. Traders who followed EquityPandit’s advice might have created huge wealth in the last 2 months.
Today: Indian Stock Market will open gap positive. Technically, Indian Stock Market is still in the positive zone and analysis would remain the same. Market would enter into the negative zone only if it closes below 17458 levels for Nifty and 36843 for BankNifty. BankNifty also took support from our trend channel and moved sharply positive as mentioned in below given BankNifty chart. Traders should initiate fresh short positions only if the market closes below these levels and until then traders can continue to hold long positions in the market.
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FIIs were net buyers of Rs.232.84 crores whereas DIIs were net sellers of Rs.167.87 crores in the cash market for the last trading session. Nifty would see strong support at 17570-17515-17440-17385 whereas strong resistance would be seen at 17660-17708-17770-17815 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (17629) The support for the Nifty is 17570-17515-17440-17385 and the resistance to the up move is at 17660-17708-17770-17815 levels.
NSE BankNifty: (37669) The support for Bank Nifty is 37415-37270-37110-37075 and the resistance to the up move is 37888-37952-38075-38240 levels.
BSE Sensex: (59141) The support for the Sensex is 58940-58815-58700-58608 and the resistance to the up move is at 59270-59385-59540-59660 levels.
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