Nifty and BankNifty Entered Positive Zone, Go Long At Every Dip In The Market

Last Trading Session: Indian Stock Market opened flat as predicted by EquityPandit. EquityPandit predicted that the market may consolidate and traders should go short at every positive rally until Nifty holds below 11336 and once the market breaches those levels, traders can initiate fresh long positions. Indian Stock Market moved sharply positive and breached EquityPandit’s reversal levels. Ultratech Cement, ICICI Bank, Kotak Bank and HDFC Bank and Tata Steel were the top gainers for the day. Finally, Indian Stock Market closed gap positive for the day. Nifty closed right below EquityPandit’s predicted resistance levels of 11390.

Market Today: Indian Stock Market would open positive. Technically, Indian Stock Market has entered into a positive zone again. Now the market would be considered bullish for the time being and traders should go long at every dip in the market. Market may see some profit booking after a sharp rally yesterday but traders should consider every downfall as an opportunity to go long in the market. Overall, Nifty and BankNifty are bullish and one can accumulate at every downfall.

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Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.1134.57 crores whereas DIIs were net sellers of Rs.379.38 crores in the cash market for the last trading session. Nifty would see strong support at 11340-11300-11260-11230  whereas strong resistance would be seen at 11409-11445-11470-11500 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 Declared Today: Muthoot Finance and CSB Bank.

NSE Nifty: (11385) The support for the Nifty is 11340-11300-11260-11230 and the resistance to the up move is at 11409-11445-11470-11500.

NSE BankNifty: (22171) The support for BankNifty is 22000-21925-21815-21675 and the resistance to the up move is 22385-22545-22745-22850.

BSE Sensex: (38528) The support for the Sensex today is 38340-38265-38227-38100 and the resistance to the up move is at  38635-38700-38747-38800-38950 levels.

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