Market Entered Positive Zone But It’s Just A Temporary Reaction Of the Downfall

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that Indian Stock Market would see a sharp bounceback and would enter into positive zone once it breaches 14180 levels for BankNifty and exactly same happened. Indian Stock Market breached 14180 levels for BankNifty in early trade and saw a sharp positive rally. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive.

Today: Indian Stock Market to open positive for the day. Technically, Indian Stock Market has entered into positive zone for very short term. Market may see some further positive rally but it would not last long. Overall Market is bearish but for now, traders can hold long positions for some instant profits as market is currently in short-covering mode. FIIs were net sellers of Rs.1311.59 crores whereas DIIs were net buyers of Rs.1987.45 crores in last trading session. Nifty would see strong support at 7056-7000-6868-6820 whereas strong resistance would be seen at 7200-7228-7280-7325 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

NSE Nifty: (7163) The support for the Nifty is 7056-7000-6868-6820 and the resistance to the up move is at 7200-7228-7280-7325 levels.

NSE BankNifty: (14445) The support for BankNifty is at 14406-14336-14220-14120 and the resistance to the up move is at 14588-14700-14825-14990 levels.

BSE Sensex: (23554) The support for the Sensex is at 23416-23350-23195-23020 and the resistance to the up move is at 23600-23759-23840-23950 levels.

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