Nifty Made New Lifetime Highs, Market To Trade In A Tight Range For Now

Last Trading Session: Indian Stock Market opened positive exactly as predicted. EquityPandit predicted that Indian Stock Market is still bullish and traders can hold long positions in the market. EquityPandit also predicted a few days back that Nifty is ready to see new record highs and exactly the same happened. Indian Stock Market moved sharply positive and traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day. Nifty managed to close just below EquityPandit’s predicted resistance levels of 15440 levels.

Today: Indian Stock Market will open negative. Technically, Indian Stock Market is still in a positive zone. Market would enter into the negative zone once it closes below 15274 for Nifty and 34545 levels for BankNifty. Market will consolidate for now and trade in a range. Some profit booking would be seen but traders can go long at dips. Overall, market is still bullish and traders can hold long positions for now.

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.913.59 crores whereas DIIs were net buyers of Rs.1275.22 crores in the cash market for the last trading session. Nifty would see strong support at 15385-15340-15300-15250 whereas strong resistance would be seen at 15508-15585-15615-15660 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (15436) The support for the Nifty is 15385-15340-15300-15250 and the resistance to the up move is at 15508-15585-15615-15660 levels.

NSE BankNifty: (35141) The support for BankNifty is 34865-34715-34500-34365 and the resistance to the up move is 35215-35355-35540-35660 levels.

BSE Sensex: (51423) The support for the Sensex is 51240-51100-51945-50865 and the resistance to the up move is at 51540-51660-61815-51888 levels.

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