Market Will Continue To See Positive Momentum Until Nifty Holds Above 15434 By Closing

Last Trading Session: Indian Stock Market opened flat exactly as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market is near its short term targets and traders can book partial profits as some correction can be seen at this point of time and exactly the same happened. Indian Stock Market moved positive and saw highs right at EquityPandit’s predicted resistance levels of 52380 for Sensex like a dot. Market saw sharp profit booking from there and saw lows right at EquityPandit’s predicted support levels of 51945 for Sensex like a dot. Finally, Indian Stock Market closed negative for the day.

Today: Indian Stock Market will open positive. Technically, Indian Stock Market is still in a positive zone. Market will continue to see positive momentum for now. Market will enter into the negative zone only if it closes below 15434 for Nifty and 34806 for BankNifty but until then the market will be considered strong and traders can continue to hold remaining long positions in the market.

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.1499.37 crores whereas DIIs were net sellers of Rs.1175.01 crores in the cash market for the last trading session. Nifty would see strong support at 15608-15565-15515-15445 whereas strong resistance would be seen at 15715-15770-15808-15885 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (15670) The support for the Nifty is 15608-15565-15515-15445 and the resistance to the up move is at 15715-15770-15808-15885 levels.

NSE BankNifty: (35291) The support for BankNifty is 35110-35035-34952-34865 and the resistance to the up move is 35440-35570-35660-35770 levels.

BSE Sensex: (52100) The support for the Sensex is 52035-51945-51865-51770 and the resistance to the up move is at 52380-52540-52660-52740 levels.

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