Market In Positive Zone And Traders Should Go Long At Dips, RIL Results Today

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that market has taken positive breakout from triangle pattern and traders can go long in the market if BankNifty closes above 30149. Indian Stock Market saw sharp positive rally. Market saw highs right near EquityPandit’s predicted resistance levels of 11800 for Nifty. Nifty and Sensex saw new record highs and finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open flat. Technically, BankNifty has also entered into positive zone. Now Indian Stock Market as a whole is in positive trend. Market may see some profit booking but it would be temporary in nature and would be an opportunity for traders to go long in the market. Traders can go long at every dip in the market. Market would continue to see new record highs in days to come. Indian Corporate Giant Reliance Industries would disclose its annual results today and would affect Indian Stock Market for the day.

Nifty:

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FIIs were net buyers of Rs.1038.58 crores whereas DIIs were net buyers of Rs.37.22 crores in cash market for last trading session. Nifty would see strong support at 11730-11700-11685-11650 whereas strong resistance would be seen 11820-11850-11880-11905 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Important Results To Be Declared Today: DCB Bank, ICICI Lombard, RBL Bank and Reliance Industries Ltd.

Stocks In F&O Ban Period: IDBI, IDEA, JETAIRWAYS, PCJEWELLER and RPOWER.

NSE Nifty: (11787) The support for the Nifty is 11730-11700-11685-11650 and the resistance to the up move is at 11820-11850-11880-11905 levels.

NSE BankNifty: (30531) The support for BankNifty is at 30445-30350-30274-30110 and the resistance to the up move is at 30660-30740-30800-30950 levels.

BSE Sensex: (39276) The support for the Sensex is at 39200-39075-39016-38918 and the resistance to the up move is at 39380-39505-39606-39660 levels.

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