Market To Consolidate Ahead Of RBI Policy, Hold Long Positions

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that Indian Stock Market is still in positive momentum and traders should hold long positions for now. Market moved sharply positive and Nifty made new lifetime highs for the day. Nifty saw highs right at EquityPandit’s predicted resistance levels of 9245 like a dot. BankNifty also saw lows of EquityPandit’s predicted support levels of 21400 and moved higher to see highs of EquityPandit’s predicted resistance levels of 21580. Traders, who followed EquityPandit’s advice to go long at dips might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open flat with positive bias. Technically, Indian Stock Market is still in positive zone. RBI Monetary Policy meeting would be held today and tomorrow. Market would see sideways movement until RBI Monetary Policy is announced tomorrow. Traders can hold long positions for now. Now next direction would be decided by the statement given by RBI post Monetary Policy. BankNifty would see reversal only if it closes below 21295 levels and until then every dip would be an opportunity for traders to go long.

FIIs were net buyers of Rs.534.45 crores whereas DIIs were net buyers of Rs.33.29 crores in cash market for last trading session. Nifty would see strong support at 9190-9150-9130-9109 whereas strong resistance would be seen at 9262-9280-9305-9325 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: (9238) The support for the Nifty is 9190-9150-9130-9109 and the resistance to the up move is at 9262-9280-9305-9325 levels.

NSE BankNifty: (21548) The support for BankNifty is at 21500-21400-21331-21250 and the resistance to the up move is at 21580-21660-21700 levels.

BSE Sensex: (29910) The support for the Sensex is at 29825-29770-29690 and the resistance to the up move is at 29950-30025-30060-30124 levels.

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