Wait For Nifty To Close Above 8824 Or BankNifty To Close Below 20456

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that BankNifty is still in positive zone and traders should hold BankNifty until it closes below 20078 levels. EquityPandit also predicted that traders should go long at support levels and short at EquityPandit’s predicted resistance levels and exactly same happened. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day. Market closed right at EquityPandit’s predicted resistance levels of 8824 for Nifty, 20550 for BankNifty and 28465 levels for Sensex like a dot.

Today: Indian Stock Market would open flat. Technically, Nifty is in negative zone but BankNifty is still in positive zone. Nifty would enter into positive zone if it closes above 8824 levels. Market would see sector specific movement. Now, BankNifty would enter into negative zone once it closes below 20456 levels. Traders can hold long positions until BankNifty spot holds 20456 levels on closing basis. Once, BankNifty closes below 20456, traders can go sort in Nifty and BankNifty. Overall, market is in consolidation range and traders should wait for either Nifty to enter into positive zone or BankNifty to enter into negative zone to take further positions in the market.

FIIs were net buyers of Rs.3419.07 crores whereas DIIs were net sellers of Rs.5631.99 crores in cash market for last trading session. Nifty would see strong support at 8800-8780-8750-8713 whereas strong resistance would be seen at 8830-8850-8900-8970 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: (8822) The support for the Nifty is 8800-8780-8750-8713 and the resistance to the up move is at 8830-8850-8900-8970 levels.

NSE BankNifty: (20551) The support for BankNifty is at 20450-20380-20215 and the resistance to the up move is at 20600-20714-20800 levels.

BSE Sensex: (28469) The support for the Sensex is at 28400-28312-28240-28145 and the resistance to the up move is at 28550-28700-28780-28880 levels.

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