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Market Enters Positive Zone, Go Long At Dips Until Nifty Above 15743 Levels

Last Trading Session: Indian Stock Market opened flat for the day. Market moved sharply positive from day lows and finally managed to close the gap positive for the day.

Today: Indian Stock Market will open gap positive. Technically, Nifty has entered into the positive zone whereas BankNifty is still in the negative zone. BankNifty will enter into the positive zone once it closes above 34005. For now, the market would be considered bullish and traders can go long at dips and continue to hold long positions till Nifty holds above 15743 levels.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.4818.71 crores whereas DIIs were net buyers of 3275.94 crores in the cash market for the last trading session. Nifty would see strong support at 16270-16215-16170-16110 whereas strong resistance would be seen at 16440-16515-16580-16615 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (16345) The support for the Nifty is 16270-16215-16170-16110 and the resistance to the up move is at 16440-16515-16580-16615 levels.

NSE BankNifty: (33815) The support for Bank Nifty is 33715-33580-33515-33365-33240 and the resistance to the up move is 34075-34170-34315-34506 levels.

BSE Sensex: (54647) The support for the Sensex is 54170-53850-53615-53440 and the resistance to the up move is 54940-55370-55660-55880 levels.

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