BankNifty Still In Positive Zone, Nifty To Enter Positive Zone If Closes Above 17340

Last Trading Session: Indian Stock Market opened gap negative as predicted by EquityPandit. EquityPandit predicted that BankNifty entered positive zone while Nifty is still in negative zone and the same happened. Nifty moved sharply negative while BankNifty saw sharp positive movement from day lows.Traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed a negative gap for the day but BankNifty managed to close positive for the day.

Today: Indian Stock Market will open flat. Technically, Nifty is still in the negative zone whereas BankNifty is still in the positive zone. Nifty would enter into the positive zone once it closes above 17340. Market would see some short covering but overall it will remain rangebound till the Union Budget. Traders can hold long positions in BankNifty and can go long in Nifty if it manages to close above 17340.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.6266.75 crores whereas DIIs were net buyers of Rs.2881.32 crores in the cash market for the last trading session. Nifty would see strong support at 17025-16955-16865-16715 whereas strong resistance would be seen at 17215-17270-17350-17440 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17110) The support for the Nifty is 17025-16955-16865-16715 and the resistance to the up move is at 17215-17270-17350-17440 levels.

NSE BankNifty: (37982) The support for Bank Nifty is 37815-37708-37540-37365 and the resistance to the up move is 38240-38380-38515-38660-38718 levels.

BSE Sensex: (57277) The support for the Sensex is 57075-56815-56660-56508 and the resistance to the up move is 57540-57660-57815-57880 levels.

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