Continue Long Positions Until Market Holds 8714 For Nifty and 20078 For BankNifty On Closing Basis

Last Trading Session: Indian Stock Market Opened positive for the day. EquityPandit predicted that traders can go long in Nifty and BankNifty until it holds 8700 levels for Nifty and same happened. Indian Stock Market moved sharply positive and saw highs right near EquityPandit’s predicted resistance levels of 8830 for Nifty. BankNifty saw lows right at EquityPandit’s predicted support levels of 20165 like a dot. Finally, Indian Stock Market closed positive for the day.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone. Nifty has been holding 8700 levels for quite a long and would see strong support at those levels. Nifty would see sharp breakout once it closes above 8820 levels. Traders can hold long positions until Nifty holds 8714 spot levels on closing basis. Market would see reversal if Nifty closes below 8714 levels and BankNifty closes below 20078 levels. Until then every dip would be an opportunity for traders to go long in the market.

FIIs were net buyers of Rs.504.51 crores whereas DIIs were net sellers of Rs.224.76 crores in cash market for last trading session. Nifty would see strong support at 8740-8700-8688-8665 whereas strong resistance would be seen at 8830-8850-8900-8970 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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Important Results To Be Disclosed Today: AIA Engineering, Allahabad Bank, Allcargo Logistics, Bajaj Hindusthan Sugar, BEML, Britannia Industries, Container Corporation Of India, DCM Shriram , Dishman Pharmaceuticals, Entertainment Network, GlaxoSmithkline Consumer Healthcare Ltd, GMR Infra, Hindalco, HPCL, Jindal Poly, MMTC, Motherson Sumi, Muthoot Finance, National Aluminium Company, NBCC, NMDC, Petronet LNG, Piramal Enterprises, Power Finance Corporation, Prestige Estates, PTC India, Reliance Infrastructure, Sadhbav Engineering, SJVN, SKF India, Suntech Realty and Tata Investment Corporation.

NSE Nifty: (8794) The support for the Nifty is 8740-8700-8688-8665 and the resistance to the up move is at 8830-8850-8900-8970 levels.

NSE BankNifty: (20214) The support for BankNifty is at 20165-20130-20000-19920 and the resistance to the up move is at 20380-20576-20610-20780 levels.

BSE Sensex: (28334) The support for the Sensex is at 28250-28183-28110-28000 and the resistance to the up move is at 28500-28660-28780-28888 levels.

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