Market Still Bullish For Now, Go Long At Dips Until Nifty Holds Above 17318

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Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that some profit booking can be seen but traders should continue to hold long positions until Nifty holds above 17119 and exactly the same happened. Indian Stock Market moved sharply positive and traders who followed EquityPandit’s advice to hold long positions might have earned whopping profits for the day. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market will open flat. Technically, the Indian Stock Market is still in a positive zone. Market saw a sharp rally yesterday and we can see some profit booking cum consolidation but the overall market would be considered bullish until it holds above 17318 for Nifty and 35411 for BankNifty. Traders can go long at every dip in the market near EquityPandit’s predicted support levels until Nifty and BankNifty hold above 17318 and 35411 respectively on a closing basis.

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.902.64 crores whereas DIIs were net buyers of Rs.803.11 crores in the cash market for the last trading session. Nifty would see strong support at 17540-17450-17365-17270 whereas strong resistance would be seen at 17715-17770-17825-17880 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17626) The support for the Nifty is 17540-17450-17365-17270 and the resistance to the up move is at 17715-17770-17825-17880 levels.

NSE BankNifty: (36422) The support for Bank Nifty is 36270-36110-35950-35865 and the resistance to the up move is 36665-36770-36940-37075 levels.

BSE Sensex: (59183) The support for the Sensex is 59035-58940-58815-58700-58608 and the resistance to the up move is  59385-59540-59660-59708 levels.

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