Market Still In Negative Zone, Initiate Long If Nifty Closes Above 17589

Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that the Indian Stock Market entered the negative zone and the market would see some bounce after sharp downfall in the last trading session but traders can go short at every positive rally in the market and the same happened. Indian Stock Market moved sharply positive and saw strong resistance near EquityPandit’s predicted resistance levels of 17570 for Nifty and managed to close right below those levels. Finally, the Indian Stock Market managed to close positive for the day.

Today: Indian Stock Market will open flat. Technically, the Indian Stock Market is still in the negative zone. Market would enter into the positive zone only if it closes above 17589 levels for Nifty and 37492 levels for BankNifty. Market would be considered bearish until it holds below these levels and traders can go short at every rally until then. Traders can initiate fresh long positions if the market manages to close above these levels.

Check Now The List Of Stocks To Buy Today

Check Detailed Analysis of Nifty, Bank Nifty and Sensex For Today

Now Analyze Any Stock Yourself Just In a Few Minutes…

A Free but the Most Powerful Tool For Smarter Analysis of any stock. Analyze any stock at: StockFact – Top Stock Research, Screener And Analysis Tool

Nifty:

Bank Nifty:

FIIs were net buyers of Rs.1041.92 crores whereas DIIs were net buyers of Rs.2167.62 crores in the cash market for the last trading session. Nifty would see strong support at 17515-17440-17385 whereas strong resistance would be seen at 17615-17660-17708-17770 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17562) The support for the Nifty is 17515-17440-17385 and the resistance to the up move is at 17615-17660-17708-17770 levels.

NSE BankNifty: (37236) The support for Bank Nifty is 37025-36865-36715-36608 and the resistance to the up move is 37380-37515-37660-37770 levels.

BSE Sensex: (59005) The support for the Sensex is 58815-58700-58608-58470 and the resistance to the up move is at 59270-59385-59540-59660 levels.

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