Market Still In Positive Zone, Hold Long Positions For Now

Last Trading Session: Indian Stock Market opened gap positive as predicted by EquityPandit. EquityPandit predicted that the Indian Stock Market would be considered strong until it holds above 17340 for Nifty and 37149 for BankNifty. Market moved sharply positive and remained highly volatile throughout the day but finally, managed to close the gap positive for the day.  

Today: Indian Stock Market will open positive. Technically, the Indian Stock Market including Nifty, BankNifty and Sensex are in the positive zone. Some profit booking can’t be ruled out but the market would be considered positive until it holds above 17067 for Nifty and 37345 for Nifty. Traders can continue to hold long positions for now till these levels hold on a closing basis.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.21.79 crores whereas DIIs were net buyers of Rs.1597.70 crores in the cash market for the last trading session. Nifty would see strong support at 17515-17440-17385-17270 whereas strong resistance would be seen at 17660-17708-17770-17840 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17577) The support for the Nifty is 17515-17440-17385-17270 and the resistance to the up move is at 17660-17708-17770-17840 levels.

NSE BankNifty: (38506) The support for Bank Nifty is 38350-38215-38075-38025-37945 and the resistance to the up move is 38660-38718-38880-38940 levels.

BSE Sensex: (58863) The support for the Sensex is 58700-58608-58470-58340 and the resistance to the up move is 59035-59270-59385-59540 levels.

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