Market To See Sideways Movement, Go Long At Dips Until Nifty Holds Above 11425

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that traders can initiate fresh short positions only if Nifty closes below but until then go long at dips and hold long positions and exactly the same happened. Indian Stock Market moved sharply negative after a positive opening mainly led by BankNifty downfall. Market saw lows right near EquityPandit’s predicted support levels of 21800 for BankNifty and 11440 for Nifty. Finally, Indian Stock Market recovered sharply from day lows but closed negative for the day.

Market Today: Indian Stock Market would open negative. Technically, Nifty is still in the positive zone but BankNifty is in the negative zone. The Nifty is showing strength but due to lack of support by BankNifty, the market is forming an indecisive pattern. The Nifty would enter into the negative zone if it closes below 11425 whereas BankNifty would enter into the positive zone if it closes above 22640. For now, the market would continue to consolidate and see sideways movement. Traders can initiate fresh short positions if Nifty closes below 11425 but until then, go long at every downfall near support levels.

Now Analyze Any Stock Yourself Just In a Few Minutes…

A Free but the Most Powerful Tool For Smarter Analysis of any stock. Analyze any stock at: StockFact – Top Stock Research, Screener And Analysis Tool

Nifty:

Bank Nifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.205.15 crores whereas DIIs were net sellers of Rs.100.83 crores in the cash market for the last trading session. Nifty would see strong support at 11495-11440-11400-11365 whereas strong resistance would be seen at 11585-11649-11682-11707 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

NSE Nifty: (11505) The support for the Nifty is 11495-11440-11400-11365 and the resistance to the up move is at 11585-11649-11682-11707.

NSE BankNifty: (22031) The support for BankNifty is 21925-21815-21675-21440 and the resistance to the up move is 22170-22265-22385-22545.

BSE Sensex: (38846) The support for the Sensex today is 38740-38660-38500-38365 and the resistance to the up move is at 39035-39118-39240-39380-39440 levels.

Note:  If you wish to subscribe to 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