Market Still In Positive Momentum, Hold Long With Strict Stoploss

Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that Indian Stock Market is in positive momentum and traders can hold long positions for now. EquityPandit also predicted few days back that traders can hold long positions in BankNifty as it would see new record highs with the target of 21500 levels and exactly same happened. Indian Stock Market moved sharply positive for last few days and BankNifty achieved EquityPandit’s predicted targets of 21500 making new highs of 21696 levels. Traders, who followed EquityPandit’s advice might have earned whopping profits in last couple of days. Finally, Indian Stock Market closed flat for the last trading session.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone but market has witnessed divergence on the last trading session of the Financial Year 2017. Now, we are into new Financial Year 2018 and today’s movement would decide the further market direction. Some profit booking can’t be ruled out at this point of time. Market would wait for RBI Moneytary Policy meeting on April 05-06 and then would see some correction before resuming the positive rally. Market would be considered weak below 9150 levels for Nifty. Indian Stock Market would see reversal if Nifty closes below 9109 levels. Overall, Indian Stock Market is strong for mid to longterm and Investors can go long at every dip in the market. BankNifty may see some further temporary correction but traders should initiate short only below 21295 levels for BankNifty and until then, every downfall is an opportunity to go long in the BankNifty.

FIIs were net sellers of Rs.295.92 crores whereas DIIs were net buyers of Rs.1499.41 crores in cash market for last trading session. Nifty would see strong support at 9150-9130-9109-9080 whereas strong resistance would be seen at 9185-9220-9245 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: (9174) The support for the Nifty is 9150-9130-9109-9080 and the resistance to the up move is at 9185-9220-9245 levels.

NSE BankNifty: (21444) The support for BankNifty is at 21400-21331-21250-21150 and the resistance to the up move is at 21500-21580-21660-21700 levels.

BSE Sensex: (29620) The support for the Sensex is at 29550-29440-29300-29200 and the resistance to the up move is at 29690-29770-29825 levels.

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