Buy At Dips With Strict Stoploss Of 8688 Levels For Nifty

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that Nifty has entered into positive zone but some correction would surely be seen. EquityPandit also predicted that traders should buy at dips near supports. Market saw a sharp correction and saw lows right near EquityPandit’s predicted support levels of 28490 for Sensex. Market rebounded from day lows but closed negative right above EquityPandit’s predicted support levels of 19840 for BankNifty and 8774 levels for Nifty like a dot.

Today: Indian Stock Market would open flat with negative bias. Technically analysis would still remain same, Nifty is in Positive zone but BankNifty is still in negative zone. BankNifty would enter into positive zone once it closes above 20080 levels. Market would remain volatile before US FED meeting and Bank Of Japan’s Monetary Policy. Some correction would be seen but traders should go long at every dip in the market. Once BankNifty enters into positive zone, Indian Stock Market would see a strong comeback and a sharp positive rally would be seen in the market. Until then market would consolidate in a rangebound region. Traders should buy at dips until Nifty holds 8750 levels on closing basis. Breaching levels of 8688 for Nifty would force market to see a sharp downfall, so traders can hold long positions with strict stoploss of 8688 spot levels for Nifty.
FIIs were net sellers of Rs.1146.93 crores whereas DIIs were net buyers of Rs.777.52 crores in cash market for last trading session. Nifty would see strong support at 8750-8700-8688-8665 whereas strong resistance would be seen at 8830-8850-8900-8970 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: (8776) The support for the Nifty is 8750-8700-8688-8665 and the resistance to the up move is at 8830-8850-8900-8970 levels.

NSE BankNifty: (19852) The support for BankNifty is at 19840-19730-19595-19495 and the resistance to the up move is at 20001-20080-20140-20240-20350 levels.

BSE Sensex: (28523) The support for the Sensex is at 28490-28312-28250 and the resistance to the up move is at 28700-28780-28880-28950 levels.

Note:  If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

Premium Subscription Pricing details can be seen at Stock Market Premium Services