Trade For Now Is To Book Profits At Higher Levels and Buy At Dips

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that RBI would not change rates and Policy would remain non-event for the market. EquityPandit also predicted that Market is positive and traders should go long at every dip as market would recover and exactly same happened. RBI kept rate unchanged as predicted by EquityPandit. Market moved up sharply in second half of trading session. Nifty saw highs right at EquityPandit’s predicted resistance levels of 8294 like a dot. BankNifty also closed right below EquityPandit’s predicted resistance levels of 17952. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Now, Market looks over stretched and some correction can’t be ruled out. Traders can hold long positions for now and book partial profits at higher levels and buy again at EquityPandit’s predicted support levels. Some correction is required to stablize the trend and market would do so in days to come but overall short-term trend is positive. FIIs were net buyers of Rs.499.73 crores whereas DIIs were net buyers of Rs.46.33 crores in cash market for last trading session. Nifty would see strong support at 8249-8200-8165-8098 whereas strong resistance would be seen at 8294-8336-8385 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: (8266) The support for the Nifty is 8249-8200-8165-8098 and the resistance to the up move is at 8294-8336-8385-8448 levels.

NSE BankNifty: (17948) The support for BankNifty is at 17827-17760-17620-17470 and the resistance to the up move is at 18000-18029-18139-18313 levels.

BSE Sensex: (27010) The support for the Sensex is at 26950-26825-26720-26540 and the resistance to the up move is at 27082-27120-27200-27305 levels.

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