Nifty Entered Positive Zone But Market Still Bearish Until BankNifty Closes Above 31270

Last Trading Session: Indian Stock Market opened negative as predicted by EquityPandit. EquityPandit predicted that market is still in negative zone and traders can go long once market manages to close above levels of 12239 for Nifty and 31270 for BankNifty and exactly same happened. Indian Stock Market moved sharply positive for the day and Nifty managed to close above 12239. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open negative. Technically, Nifty has entered into positive zone whereas BankNifty is still in positive zone. BankNifty would enter into positive zone only if it closes above 31270. Nifty may see some positive movement but traders should wait for confirmation before going long. Traders can go long only if BankNifty also manage to close in positive zone above 31270 but until then hold short positions in the market with stoploss.

Nifty:

BankNifty:

Here to Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.659.11 crores whereas DIIs were net buyers of Rs.417.96 crores in cash market for last trading session. Nifty would see strong support at 12200-12165-12125-12105 whereas strong resistance would be seen at 12270-12310-12340-12380 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Quarterly Results To Be Disclose Today: CCL Products India, DCM Shriram, Dr. Reddys Laboratories, HDFC, IIFL Finance, Interglobe Aviation, Lakshmi Machine Works, Mahindra Lifespace Developers, Navin Fluorine International, TCI Express Ltd, Torrent Pharma and Wockhardt.

NSE Nifty: (12248) The support for the Nifty is 12200-12165-12125-12105 and the resistance to the up move is at 12270-12310-12340-12380 levels.

NSE BankNifty: (31242) The support for BankNifty is 31110-31025-30920-30865 and the resistance to the up move is 31340-31405-31455-31600 levels.

BSE Sensex: (41613) The support for the Sensex is 41440-41350-41270-41180 and the resistance to the up move is at 41740-41800-41880-41955 levels.

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