Market To Consolidate, Go Long If Nifty Trades Above 17628
Last Trading Session: Indian Stock Market opened negative as predicted by EquityPandit. EquityPandit predicted that Market would see short covering now and traders can go long near EquityPandit’s predicted support levels and exactly the same happened. The Indian Stock Market moved negative but recovered sharply from there. Traders who followed EquityPandit’s advice to go long at dips might have earned huge profits for the day. Finally, the Indian Stock Market managed to close positive for the day. Nifty closed right below EquityPandit’s predicted resistance levels sof 17506 like a dot.
Today: Indian Stock Market will open positive. Technically, Indian Stock Market is still in negative zone but would enter into positive zone once it closes above 17628 for Nifty and 37703 for BankNifty. Currently the market would consolidate and traders can go long if the market manages to close above EquityPandit’s predicted reversal levels of 17628 for Nifty and 37703 for BankNifty.
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FIIs were net sellers of Rs.4477.06 crores whereas DIIs were net buyers of Rs.1412.05 crores in the cash market for the last trading session. Nifty would see strong support at 17325-17285-17240-17170 whereas strong resistance would be seen at 17570-17616-17670-17815 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (17503) The support for the Nifty is 17325-17285-17240-17170 and the resistance to the up move is at 17570-17616-17670-17815 levels.
NSE BankNifty: (37273) The support for Bank Nifty is 37025-36865-36715-36608 and the resistance to the up move is 37380-37515-37660-37770 levels.
BSE Sensex: (58664) The support for the Sensex is 58515-58308-58110-58035 and the resistance to the up move is 58740-58880-58952-59075 levels.
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