Market To See Sharp Positive Movement, Watch The Right Entry and Exit Points

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that some correction would be seen in Indian Stock Market but traders should go long at dips near support of 8750 levels. EquityPandit also predicted that market would consolidate for now and exactly same happened. Indian Stock Market moved positive but saw strong resistance right below EquityPandit’s predicted resistance levels of 28700 for Sensex and 8830 for Nifty like a dot. Market was not able to breach EquityPandit’s resistance and fell down sharply to see lows near EquityPandit’s predicted support levels of 8750 for Nifty and 19730 levels for BankNifty. Finally Indian Stock Market recovered from day lows and managed to close flat for the day.

Today: Indian Stock Market would open Gap Positive. Technically, Nifty is still in positive zone but BankNifty is in negative zone. US FED kept the rate unchanged and hence we would see sharp positive movement in Indian Stock Market backed by the banking sector and there is the possibility that BankNifty may enter into positive zone by closing above 20091 spot levels. Now the only worry for Indian Stock Market is the rising tensions between India and Pakistan and that may dampen the positive rally. Now, if BankNifty enters into positive zone by closing above 20091 levels then Indian Stock market would see sharp positive movement and the next stop would be the new lifetime highs but if any negative news comes out then it would affect Indian Stock Market heavily. So, if Nifty enters into negative zone again by breaching 8713 levels by closing then we would see a sharp downfall as BankNifty is still in negative zone. In that case, we may see BankNifty touching levels of 19000 and Nifty going below 8500-8600 levels. So, traders should wait for either BankNifty to enter into positive zone or else Nifty to come again in negative zone. If BankNifty enters into positive zone, traders can go long and if Nifty enters again in negative zone by closing below 8713 levels then traders can go short for sure, to generate huge profits. Intraday traders can go long in BankNifty once it breaches spot levels of 20091 and can book profits at higher levels but remember, long positions in BankNifty can be taken home only if it closes above 20091 levels.
FIIs were net buyers of Rs.183.85 crores whereas DIIs were net sellers of Rs.230.59 crores in cash market for last trading session. Nifty would see strong support at 8750-8713-8688-8665 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.

Click Here to Check the Trend Of Major Indices and Stocks

NSE Nifty: (8777) The support for the Nifty is 8750-8713-8688-8665 and the resistance to the up move is at 8830-8850-8900-8970 levels.

NSE BankNifty: (19828) The support for BankNifty is at 19730-19595-19495 and the resistance to the up move is at 19955-20080-20140-20240-20350 levels.

BSE Sensex: (28507) The support for the Sensex is at 28450-28312-28250 and the resistance to the up move is at 28700-28780-28880-28950 levels.

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