Market Bullish Until BankNifty Holds Above 20305 By Closing, Go Long At Dips

Last Trading Session: Indian Stock Market opened flat with positive bias in the last trading session. EquityPandit predicted that Nifty has entered a positive zone and traders can take long positions home if BankNifty closes above 20973 and exactly the same happened. BankNifty opened flat and saw lows right at EquityPandit’s predicted support levels of 20878 right on a dot. Indian Stock Market moved sharply positive and traders, who might have gone long in Nifty a day earlier on EquityPandit’s advice might have earned huge profits for the day. Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 10275 for Nifty and 21465 for BankNifty like a dot. Finally, Indian Stock Market closed the gap positive for the day.

Today: Indian Stock Market would open flat. Technically, Nifty is still in the positive zone and now BankNifty has also entered into the positive zone. Market may see some profit booking but traders should go long at every dip in the market. Market would now be considered bullish until it holds above 9920 for Nifty and 20305 for BankNifty. Upside is open till 23000 levels for BankNifty until it holds above 20305 on closing basis. Overall, the market is bullish and traders should go long at every downfall or hold long positions for now.

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Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.1237 crores whereas DIIs were net sellers of Rs.880.66 crores in the cash market for the last trading session. Nifty would see strong support at 10180-10120-10065-10037 whereas strong resistance would be seen at 10275-10396-10440 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: Aegis Logistics, AIA Engineering, GE Power, Info Edge, JTEKT India and Sudarshan Chemical Industries.

NSE Nifty: (10244) The support for the Nifty 10180-10120-10065-10037 and the resistance to the up move is at 10275-10396-10440.

NSE BankNifty: (21338) The support for BankNifty is 21065-20878-20745-20620 and the resistance to the up move is 21715-21862-22000 levels.

BSE Sensex: (34732) The support for the Sensex 34540-34365-34037-34815 and the resistance to the up move is at 34927-35065-35270-35480  levels.

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