Nifty Entered Positive Zone, Go Long At Every Dips, F&O Expiry Today

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that market is still in negative zone but would see strength above 8405 levels for Nifty. EquityPandit also predicted that market would enter into positive zone once Nifty closes above 8448 levels and exactly same happened. Indian Stock Market moved sharply positive breaching EquityPandit’s reversal levels of 8448 levels. Finally, Indian Stock Market closed gap positive for the day. Sensex closed right below EquityPandit’s predicted resistance levels of 27385 levels.

Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market entered in positive zone. Today is F&O Expiry and we can see some profit booking near resistance levels but every dip would be an opportunity for traders to go long. Traders can go long near support levels. Once BankNifty closes above 19057 levels for on spot basis, it would also enter into positive zone. Nifty would breach resistance of 8500 today but Once Nifty closes above 8505 levels then it would see sharp breakout in days to come. Union Budget to be held on February 01, 2017 and street have high expectations from this, so market would be buy at dips until Union Budget. Results of few Indian corporate giants like Kotak Mahindra Bank, Maruti Suzuki and Wipro would be disclosed today and it would affect the direction of Indian Stock Market.

FIIs were net buyers of Rs.93.95 crores whereas DIIs were net buyers of Rs.533.49 crores in cash market for last trading session. Nifty would see strong support at 8415-8350-8312 whereas strong resistance would be seen at 8505-8567-8585-8605 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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Important Results To Be Disclosed Today: Arvind, Ashok Leyland, Coromandel, Exide Industries, IDFC Bank, IIFL Holdings, Indiabulls Real Estate, Indian Bank, IRB Infra, Kirloskar Oil, Kotak Mahindra Bank, Maruti Suzuki, Oberoi Realty, Raymond, Tata Elxsi, UPL, VRL Logistics and Wipro Ltd.

NSE Nifty: (8476) The support for the Nifty is 8415-8350-8312 and the resistance to the up move is at 8505-8567-8585-8605 levels.

NSE BankNifty: (19024) The support for BankNifty is at 18900-18835-18720-18610 and the resistance to the up move is at 119138-19241-19376-19440 levels.

BSE Sensex: (27376) The support for the Sensex is at 27250-27160-27034-26950 and the resistance to the up move is at 27460-27550-27640-27720-27800 levels.

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