Market To Open Positive, Go Long If Nifty Closes Above 14649 For Nifty

Last Trading Session: Indian Stock Market opened positive for the day and moved sharply positive as a reaction to the steep downfall a day earlier. BankNifty saw a sharp positive rally for the day. Finally, Indian Stock Market closed the gap positive for the day.

Today: Indian Stock Market would open positive. Technically, Nifty and BankNifty are still in negative zone and would enter into positive zone once it closes above 14649 for Nifty and 32059 for BankNifty. Once the market closes above these levels, we would continue to see a sharp positive rally but until then traders can remain cautious. Overall, market to open positive and consolidate for the day.

Check Detailed Analysis of Nifty, BankNifty and Sensex For Today

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.730.81 crores whereas DIIs were net buyers of Rs.243.80 crores in the cash market for last trading session. Nifty would see strong support at 14440-14365-14315-14264 whereas strong resistance would be seen at 14615-14660-14740-14808 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (14505) The support for the Nifty is 14440-14365-14315-14264 and the resistance to the up move is at 14615-14660-14740-14808 levels.

NSE BankNifty: (31772) The support for BankNifty is 31600-31440-31365-31240 and the resistance to the up move is 31880-31965-32075-32215-32340 levels.

BSE Sensex: (48544) The support for the Sensex is 48315-48240-48110-48035 and the resistance to the up move is at 48608-48718-48888-49075 levels.

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