BankNifty Enters In Positive Zone, Nifty Still In Negative Trend

Last Trading Session: Indian Stock Market opened gap negative as predicted by EquityPandit. EquityPandit predicted that market will see short covering for the day and same happened. Indian Stock Market moved sharply positive on the account of short covering as predicted. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market will open gap negative. Technically, BankNifty has entered into positive zone whereas Nifty is still in negative zone. Nifty would enter into positive zone once it closes above 17354. Further selling can be seen in the market. Traders can go long if Nifty manages to close above 17354 levels.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.7094.48 crores whereas DIIs were net buyers of Rs.4534.53 crores in the cash market for the last trading session. Nifty would see strong support at 17215-17140-17075-17025 whereas strong resistance would be seen at 17350-17440-17515-17608 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17277) The support for the Nifty is 17215-17140-17075-17025 and the resistance to the up move is at 17350-17440-17515-17608 levels.

NSE BankNifty: (37707) The support for Bank Nifty is 37515-37365-37240-37110 and the resistance to the up move is 37952-38110-38270-38385 levels.

BSE Sensex: (57858) The support for the Sensex is 57715-57508-57365-57240 and the resistance to the up move is 58035-58180-58385-58540 levels.

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