Market Bullish Until It Holds Above 16119 For Nifty And 35379 For BankNifty

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit Wednesday that BankNifty has also entered into the positive zone. EquityPandit also suggested traders to go long in the market and exactly the same happened. Indian Stock Market moved sharply positive in the last two trading sessions. Traders who followed EquityPandit’s suggestion might have earned huge profits for the day. Finally, Indian Stock Market closed positive for the day.

Today: Indian Stock Market will open positive. Technically, Indian Stock Market is still in a positive zone. Some profit booking can’t be ruled out at this point of time but the market would be considered strong until it holds above 16119 for Nifty and 35379 for BankNifty. Traders can go long at dips and continue long positions until the market holds above these levels. Overall, the market would be considered bullish until it holds above EquityPandit’s predicted reversal levels.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.719.88 crores whereas DIIs were net buyers of Rs.731.92 crores in the cash market for the last trading session. Nifty would see strong support at 16240-16170-16110-16035 whereas strong resistance would be seen at 16340-16380-16440-16515 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (16295) The support for the Nifty is 16240-16170-16110-16035 and the resistance to the up move is at 16340-16380-16440-16515 levels.

NSE BankNifty: (35835) The support for Bank Nifty is 35715-35608-35505-35365 and the resistance to the up move is 36035-36110-36270-36385 levels.

BSE Sensex: (54493) The support for the Sensex is 54365-54230-54075-53940 and the resistance to the up move is at 54660-54770-54888-54952 levels.

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