Indian Market Still Bullish, Continue Long Until Nifty Holds Above 15156 Levels

Last Trading Session: Indian Stock Market opened flat as predicted. EquityPandit predicted that Indian Stock Market is consolidating but still bullish as of now. EquityPandit also predicted traders to go long at dips in the market and exactly the same happened. Indian Stock Market moved saw some profit booking but recovered sharply and saw highs right near EquityPandit’s predicted resistance levels of 15380 for Nifty and 35215 for BankNifty. Traders who followed EquityPandit’s advice might have earned excellent profit 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. Market would enter into the negative zone only if it closes below 15156 for Nifty and 34144 for BankNifty. Market will be considered bullish until it holds above these levels and traders can continue to hold long positions in the market.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.660.90 crores whereas DIIs were net buyers of Rs.112.38 crores in the cash market for the last trading session. Nifty would see strong support at 15250-15180-15100-15035 whereas strong resistance would be seen at 15350-15380-15440-15508 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (15338) The support for the Nifty is 15300-15250-15180-15100 and the resistance to the up move is at 15380-15440-15508-15585 levels.

NSE BankNifty: (35095) The support for BankNifty is 34865-34715-34500-34365 and the resistance to the up move is 35215-35355-35540-35660 levels.

BSE Sensex: (51115) The support for the Sensex is 50865-50660-50485-50315 and the resistance to the up move is at 51270-51380-51540-51660 levels.

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