Market Still In Positive Zone, Continue Long Until Nifty Holds Above 16970

Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that the Indian Stock Market is still in a positive zone and traders can continue to hold long positions until Nifty holds above 16970 and exactly the same happened. Traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market will open flat. Technically, Indian Stock Market is still in the positive zone and would be considered bullish until it holds above 16983 for Nifty and 36209 for BankNifty. Market for now would see some sideways movement with consolidation but would enter into the negative zone only if it closes below these levels. Until then, the market would be considered strong and traders can continue to hold long positions.

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.348.52 crores whereas DIIs were net buyers of Rs.381.70 crores in the cash market for the last trading session. Nifty would see strong support at 17170-17110-17025-16955 whereas strong resistance would be seen at 17270-17340-17380-17440 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17234) The support for the Nifty is 17170-17110-17025-16955 and the resistance to the up move is at 17270-17340-17380-17440 levels.

NSE BankNifty: (36831) The support for Bank Nifty is 36715-36608-36515-36380 and the resistance to the up move is 37035-37075-37170-37285 levels.

BSE Sensex: (57852) The support for the Sensex is 57750-57660-57540-57452 and the resistance to the up move is at 57940-58035-58110-58270 levels.

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