Nifty To See Positive Movement But Go Long Only If It closes Above 9050

Last Trading Session: Indian Stock Market negative exactly as predicted by Equitypandit. EquityPandit predicted that market is near a sharp resistance and traders can go long only if Nifty closes above 9050 but until then traders can go short at every positive movement in the market. Nifty moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 9127 like a dot. Finally, Indian Stock Market closed negative for the day.

Today: Indian Stock Market would open positive. Technically, Nifty is still in positive zone whereas BankNifty is still in negative zone. Now BankNifty would enter into positive zone only if it closes above 19463. Analysis would remain same. Nifty possess strong resistance of 9050 at closing basis. Once it closes above these levels then we would see levels of 9200-9500-10028 for Nifty in days to come but for now, traders can go short near resistances with closing stoploss of 9050. If Nifty closes above 9050 and BankNifty manages to close above 19463 then only one can go long in the market.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.1943.41 crores whereas DIIs were net sellers of Rs.1757.79 crores in cash market for last trading session. Nifty would see strong support at 8665-8500-8400-8307 whereas strong resistance would be seen at 8950-9050-9127-9200 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (8749) The support for the Nifty is 8665-8500-8400-8307 and the resistance to the up move is at 8855-8910-8950-9050-9127 levels.

NSE BankNifty: (18946) The support for BankNifty is 18700-18425-18254 and the resistance to the up move is 19256-19380-19508-19770 levels.

BSE Sensex: (29894) The support for the Sensex is 29606-29395-29071 and the resistance to the up move is at 30418-30710-31125 levels.

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