Market To See Further Profit Booking But Go Long At Dips Until Nifty Above 17052

Last Trading Session: Indian Stock Market opened negative for the day. EquityPandit predicted that market still consolidating and traders can go long at dips near support until Nifty trading above 17052 and exactly the same happened. Indian Stock Market moved sharply negative and saw lows right at EquityPandit’s predicted support levels of 17215 for Nifty like a dot. Market recovered sharply from there to see levels of 17380 for Nifty. Traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, the Indian Stock Market eased down and closed negative for the day.

Today: Indian Stock Market will open gap negative. Technically, the Indian Stock Market is currently in a positive zone. Analysis would still remain the same. Market would enter into the negative zone once it closes below 17052 for Nifty and 37164 for BankNifty. Market will see further downfall but traders can go long at dips near support levels. Fresh short positions should be initiated only if the market closes below reversal levels.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.2529.96 crores whereas DIIs were net buyers of 1929.08 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 17324-17380-17440-17515 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17276) The support for the Nifty is 17215-17140-17075-17025 and the resistance to the up move is at 17324-17380-17440-17515 levels.

NSE BankNifty: (37599) The support for Bank Nifty is  37365-37240-37110-36940 and the resistance to the up move is 37740-37870-37952-38075 levels.

BSE Sensex: (57833) The support for the Sensex is 57660-57508-57340-57270 and the resistance to the up move is 58035-58240-58385-58540 levels.

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