Market Still In Positive Momentum, Hold Long Positions As Of Now

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that Market is strong until Nifty holds 9375 levels. EquityPandit also predicted that next target for Nifty is set to 9500 levels and exactly same happened. Nifty moved sharply positive and breached EquityPandit’s target of 9500 with high volumes. BankNifty saw lows right at EquityPandit’s predicted support levels of 22730 and moved sharply positive from there. Traders, who followed EquityPandit’s advice might have earned whopping profits for the day. Nifty saw new record highs for the day. 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. Market is overstretched and some profit booking would be seen but Nifty would continue to see positive rally in a cyclic manner. Some immediate resistance would be seen at 9535-9554 levels but overall, market is in positive momentum and traders can continue to hold long positions until Nifty holds 9423 levels on closing basis. Market has generated a strong bullish candle yesterday that shows strength still lying in the trend. Next target for Nifty is set to 9550-9580 levels in upcoming days. Traders are suggested to hold long positions as of now. Also Check 4 Stocks To Watch Today

FIIs were net buyers of Rs.858.29 crores whereas DIIs were net sellers of Rs.401.89 crores in cash market for last trading session. Nifty would see strong support at 9500-9470-9420 whereas strong resistance would be seen at 9535-9550-9580-9600 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 Corporate Results Today: Allahabad Bank, Bajaj Finance, Bajaj Finserv, Edelweiss Financial Services, Hindustan Copper, Hindustan Unilever, Indian Overseas Bank, JK Lakshmi Cement, JSW Steel, Mangalore Refinery & Petrochemicals, NIIT Ltd and United Breweries Ltd.

NSE Nifty: (9512) The support for the Nifty is 9500-9470-9420 and the resistance to the up move is at 9535-9550-9580-9600 levels.

NSE BankNifty: (22929) The support for BankNifty is at 22880-22730-22670-22629 and the resistance to the up move is at 22980-23060-23120-23240 levels.

BSE Sensex: (30582) The support for the Sensex is at 30530-30480-30400-30360 and the resistance to the up move is at 30600-30685-30740-30825 levels.

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