Indian Market Would Consolidate Before US FED Decision, Go Long At Dips

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive with 150+ points for Nifty and 300+ points for Sensex. EquityPandit predicted that Indian Stock Market would see Lifetime highs and exactly same happened. EquityPandit also predicted that market would see some profit booking after higher opening. Indian Stock Market, including Nifty, Sensex and BankNifty saw Lifetime highs as per EquityPandit’s predictions. Market saw profit booking as per EquityPandit’s predictions. EquityPandit also suggested traders and investors to go long in ICICI Bank and exactly same happened. ICICI Bank was the biggest gainer in the Banking sector for the day. Traders, who followed EquityPandit’s advice might have earned whopping profits for the day. Nifty saw highs right near EquityPandit’s predicted resistance levels of 9120 like a dot. Finally, Indian Stock Market closed gap positive for the day. Nifty closed right above EquityPandit’s predicted support levels of 9080 like a dot.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Market would remain buy on dips until Nifty holds 9011 levels and BankNifty holds 20917 levels on closing basis. Market would now wait for US FED interest rate hike before moving further. Nifty would enter into negative zone only if it closes below 9011 levels, until then traders can go long at every dip in the market. Once the event of US FED Interest rate hike get faded then BankNifty would start its move towards 21500-22000. Nifty, once breaches levels of 9122 would head towards next target of 9220 levels.

FIIs were net buyers of Rs.4087.89 crores whereas DIIs were net sellers of Rs.1519.94 crores in cash market for last trading session. Nifty would see strong support at 9080-9020-9000-8960 whereas strong resistance would be seen at 9122-9180-9200-9218 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: (9087) The support for the Nifty is 9080-9020-9000-8960 and the resistance to the up move is at 9122-9180-9200-9218 levels.

NSE BankNifty: (21103) The support for BankNifty is at 21055-20985-20900-20850-20740 and the resistance to the up move is at 21275-21380-21500-21720 levels.

BSE Sensex: (29443) The support for the Sensex is at 29350-29240-29154-29060 and the resistance to the up move is at 29570-29700-29880 levels.

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