BankNifty Enters Positive Zone, Traders Can Go Long If Nifty Closes Above 14662

Last Trading Session: Indian Stock Market opened positive as predicted. EquityPandit predicted that the market would open positive and would consolidate for the day and exactly the same happened. Sensex saw highs right at EquityPandit’s predicted resistance levels of 48888 like a dot. Finally, Indian Stock Market consolidated and closed positive for the day.

Today: Indian Stock Market would open flat. Technically, Nifty is still in the negative zone whereas BankNifty has entered into the positive zone. The Nifty would enter into a positive zone once it closes above 14662 levels and if that happens, the market would be considered bullish and traders can take long positions home. Overall market has shown good strength in the last two days and traders can trade long if BankNifty manages to trade above 32200 levels for some time.

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.979.70 crores whereas DIIs were net sellers of Rs.526.63 crores in the cash market for last trading session. Nifty would see strong support at 14505-14440-14365-14315 whereas strong resistance would be seen at 14615-14660-14740-14808 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (14581) The support for the Nifty is 14505-14440-14365-14315 and the resistance to the up move is at 14615-14660-14740-14808 levels.

NSE BankNifty: (32113) The support for BankNifty is 31880-31770-31600-31440 and the resistance to the up move is 332340-32506-32680-32840 levels.

BSE Sensex: (48804) The support for the Sensex is 48660-48506-48440-48365 and the resistance to the up move is at 49075-49170-49315-49380-49515 levels.

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