Nifty To Break the 9580-9635 Range, Continue Long Until Nifty Holds 9580

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with negative bias. EquityPandit predicted that market would see some profit booking but 9580 would act as strong support for Nifty and traders can hold long positions for Nifty. EquityPandit also predicted that 9635 would act as strong resistance for Nifty and exactly same happened. Indian Stock Market moved negative but saw strong support near EquityPandit’s predicted support levels of 9580 for Nifty and 31060 for Sensex like a dot. Market recovered from there and saw highs right at EquityPandit’s predicted resistance levels of 31220 for sensex and 9635 for Nifty like a dot. Traders, who followed EquityPandit’s predictions might have earned huge profits for the day. Finally, Indian Stock Market closed flat for the day.

Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market is still in positive zone. Now, Nifty is ready to break the range of 9580-9635 in the positive direction and the next target would be 9660-9700. Traders can hold long positions until 9580 levels holds for Nifty. Overall, market is positive until it holds 9580 for Nifty. Breaching 9580 levels would force Nifty to see levels of 9540 levels where it would see its next support. Downside looks very limited as huge buying is seen at every dip in the market. So Trade is to hold long positions or go long at dips until Nifty closes below its last support of 9540 levels. Every dip would be an opportunity to add long positions in the market.

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FIIs were net sellers of Rs.517.31 crores whereas DIIs were net buyers of Rs.171.65 crores in cash market for last trading session. Nifty would see strong support at 9580-9538-9470-9450 whereas strong resistance would be seen at 9635-9660-9705-9715 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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NSE Nifty: (9616) The support for the Nifty is 9580-9538-9470-9450 and the resistance to the up move is at 9635-9660-9705-9715 levels.

NSE BankNifty: (23310) The support for BankNifty is at 23240-23180-23140-23060-22940 and the resistance to the up move is at 23400-23540-23600-23660 levels.

BSE Sensex: (31138) The support for the Sensex is at 31060-30940-30865-30715 and the resistance to the up move is at 31220-31272-31380 levels.

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