Market Strong Until Nifty Holds Above 15597, Continue Long For Now

Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market would be considered bullish until it holds above 15597 for Nifty and until then traders should hold long positions and exactly the same happened. Indian Stock Market saw some profit booking but recovered sharply from there. Traders who followed EquityPandit’s advice to hold long positions might have earned decent profits for the day. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market will open flat. Technically, BankNifty is still in the negative zone whereas Nifty is in the positive zone. BankNifty will enter into the positive zone again if it closes above 35437 levels. Traders can continue to hold long positions until Nifty is trading above 15597 levels. Overall, the market is strong until Nifty holds above 15597 levels on a closing basis.  

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.1329.70 crores whereas DIIs were net sellers of Rs.575.19 crores in the cash market for the last trading session. Nifty would see strong support at 15708-15660-15608-15565 whereas strong resistance would be seen at 15808-15885-15945-15970 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (15738) The support for the Nifty is 15708-15660-15608-15565 and the resistance to the up move is at 15808-15885-15945-15970 levels.

NSE BankNifty: (35131) The support for BankNifty is 35035-34952-34865-34700 and the resistance to the up move is 35380-35570-35660-35770 levels.

BSE Sensex: (52300) The support for the Sensex is 52035-51945-51865 and the resistance to the up move is at 52540-52660-52740-52815 levels.

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