Nifty Entered Positive Zone, Go Long At Every Dip In The Market

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that market would see sharp short covering rally. EquityPandit also predicted that market is currently in negative zone but breaching levels of 8193 for Nifty would reverse the trend and market would enter into positive zone and exactly same happened. Indian Stock Market saw sharp short covering rally and breached the reversal levels of 8193 for Nifty. Breaching these levels forced market to move sharply positive. Indian Stock Market saw highs right at EquityPandit’s predicted resistance levels of 8250 for Nifty and 26720 levels for Sensex. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open positive. Technically, Nifty has entered into positive zone but BankNifty is still in negative zone. BankNifty would enter into positive zone once it breaches levels of 18534 on intraday basis and traders can take long positions home if BankNifty closes above 18600 levels. If BankNifty manages to close above 18600 levels then we could see sharp positive rally in days to come. Breaching levels of 18600 for BankNifty would force BankNifty to achieve EquityPandit’s target of 19000 for BankNifty and 8350-8390 levels for Nifty. Overall, its time for traders to go long at every dip in the market.
FIIs were net buyers of Rs.698.86 crores whereas DIIs were net buyers of Rs.64.32 crores in cash market for last trading session. Nifty would see strong support at 8197-8150-8100-8077 whereas strong resistance would be seen at 8267-8310-8357-8399 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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Important Results To Be Disclosed Today: DLF, Gayatri Projects, Jaiprakash Power, Jaypee Infratech, Jindal Steel & Power, NMDC, Rolta and SJVN Ltd.

NSE Nifty: (8247) The support for the Nifty is 8197-8150-8100-8077 and the resistance to the up move is at 8267-8310-8357-8399 levels.

NSE BankNifty: (18515) The support for BankNifty is at 18333-18240-18188-18060 and the resistance to the up move is at 18588-18690-18780-18888-19000 levels.

BSE Sensex: (26694) The support for the Sensex is at 26597-26500-26450-26380 and the resistance to the up move is at 26809-26950-27060-27128 levels.

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