Market In Positive Zone, Hold Long Positions

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that Indian Stock Market would see sharp positive movement and traders can take long positions home if BankNifty closes above 20091 levels and exactly same happened. Indian Stock Market moved sharply positive but saw strong resistance right near EquityPandit’s predicted resistance levels of 28880 for Sensex and 8900 levels for Nifty. Market rebounded from there and fell down sharply but managed to close gap positive for the day. Traders, who followed EquityPandit’s advice might have earned huge profits for the day.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone and traders can hold long positions as of now. Now Indian Stock Market is in positive momentum and there are strong chances that market may breach levels of 9000 for Nifty or even see new all-time highs in upcoming days if it manages to hold 8780 levels for Nifty on closing basis. Traders can hold long positions with strict stoploss of 8780 levels for Nifty and 19838 levels for BankNifty on Closing basis. Nifty has formed a Doji Pattern, that suggest that a sharp positive rally would be seen if Nifty breaches levels of 8894 levels whereas a sharp negative rally would be seen if Nifty breaches 8837 levels.
FIIs were net buyers of Rs.336.87 crores whereas DIIs were net buyers of Rs.310.35 crores in cash market for last trading session. Nifty would see strong support at 8800-8780-8750-8713 whereas strong resistance would be seen at 8900-8970-9000-9120 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

NSE Nifty: (8867) The support for the Nifty is 8800-8780-8750-8713 and the resistance to the up move is at 8900-8970-9000-9120 levels.

NSE BankNifty: (20110) The support for BankNifty is at 20000-19900-19870-19730 and the resistance to the up move is at 20265-20350-20460-20575 levels.

BSE Sensex: (28773) The support for the Sensex is at 28716-28650-28420 and the resistance to the up move is at 28870-28950-29070-29264 levels.

Note:  If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

Premium Subscription Pricing details can be seen at Stock Market Premium Services