Go Long At Every Dip Until Nifty Holds Above 10100 On Closing Basis

Last Trading Session: Indian Stock Market opened negative for the day. Market saw lows but recovered sharply in the final hour of trading session. Finally, Indian Stock Market closed positive for the day.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Indian Stock Market would continue to see positive movement in days to come and traders can continue to buy at every dip in the market until Nifty holds 10100 levels on closing basis. Next logical target for Nifty is set to 10300-10320 zone where it would witness some resistance. Breaching levels of 10300 for Nifty on closing basis would induce further buying in the market.

FIIs were net sellers of Rs.376.51 crores whereas DIIs were net buyers of Rs.479.18 crores in cash market for last trading session. Nifty would see strong support at 10146-10097-10065 whereas strong resistance would be seen 10275-10309-10340-10437 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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Stocks In F&O Ban Period: NIL.

NSE Nifty: (10245) The support for the Nifty is 10146-10097-10065 and the resistance to the up move is at 10275-10309-10340-10437 levels.

NSE BankNifty: (24511) The support for BankNifty is at 24360-24270-24150-24050 and the resistance to the up move is at 24584-24730-24880 levels.

BSE Sensex: (33371) The support for the Sensex is at 33280-33139-33040 and the resistance to the up move is at 33439-33546-33715 levels.

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