Nifty Enters Positive Zone, Take Long Positions Home If BankNifty Closes Above 20973

Last Trading Session: Indian Stock Market opened negative as predicted by EquityPandit. EquityPandit predicted that the market is still in a negative zone and traders should go long only if Nifty breaches above 9989 and Banknifty above 20973 levels. The Supreme court AGR ruling provided respite to the exposed banks and hence the market moved sharply positive. Market saw highs right near EquityPandit’s predicted resistance levels of 10123 levels for Nifty. Finally, Indian Stock Market closed the gap positive for the day. BankNifty closed below Equitypandit’s predicted resistance levels of 20973.

Today: Indian Stock Market would open flat. Technically, Nifty has now entered into positive zone whereas BankNifty is still in negative zone. Now the market looks strong but confirmation would be seen once BankNifty closes above 20973 levels for BankNifty. Traders can take long positions home once BankNifty also closes above 20973. Until the market would be little volatile and traders can hedge all the long positions taken, so as to reduce the risk.

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Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.366.57 crores whereas DIIs were net buyers of Rs.1131.27 crores in the cash market for the last trading session. Nifty would see strong support at 10037-9980-9933-9903 whereas strong resistance would be seen at 10123-10185-10275-10396 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

Important Results To Be Disclosed Today: Bajaj Electricals, Cadila Healthcare, Century Plyboard, LIC housing Finance, PTC India, Punjab National Bank and The Ramco Cements Ltd.

NSE Nifty: (10092) The support for the Nifty 10037-9980-9933-9903 and the resistance to the up move is at 10123-10185-10275-10396.

NSE BankNifty: (20956) The support for BankNifty is 20745-20620-20545 and the resistance to the up move is 21240-21465-21715-21862 levels.

BSE Sensex: (34208) The support for the Sensex 34037-34815-33678-33530 and the resistance to the up move is at 34500-34770-34888-35065  levels.

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