Market Bullish Until Nifty Holds 17818, Go Long At Dips

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that traders should go long at dips until Nifty holds above 17818 and exactly the same happened. The Indian Stock Market moved sharply positive and finally managed to close the gap positive for the day.

Today: Indian Stock Market will open positive. Technically, Nifty is still in the positive zone whereas BankNifty is in the negative zone. BankNifty would enter into the positive zone only if it closes above 39207 levels. Overall, the market is bullish until Nifty holds above 17818 and traders can go long at dips in the market. Once BankNifty also closes above 39207 then the market would see a sharp positive rally.

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.511.10 crores whereas DIIs were net buyers of Rs.851.41 crores in the cash market for the last trading session. Nifty would see strong support at 18035-17952-17865-17815 whereas strong resistance would be seen at 18140-18170-18270-18340 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (18103) The support for the Nifty is 18035-17952-17865-17815 and the resistance to the up move is at 18140-18170-18270-18340 levels.

NSE BankNifty: (38733) The support for Bank Nifty is 38615-38508-38365-38240 and the resistance to the up move is 38880-39035-39170-39380-39515 levels.

BSE Sensex: (60687) The support for the Sensex is 60515-60365-60240-60110 and the resistance to the up move is 60888-60952-61075-61185 levels.

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