Market To Open Flat But Traders Can Go Long At Dips For Now Until Nifty Holds Above 8900

Last Trading Session: Indian Stock Market positive exactly as predicted by EquityPandit. EquityPandit predicted predicted that market would see further positive movement but traders should go long once market closes above 9050 and exactly same happened. Indian stock market moved positive and saw highs right at EquityPandit’s predicted resistance levels of 9127 like a dot. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market, including Nifty, BankNifty and Sensex are in positive zone. Market has breached its important resistance of 9050 in last trading session and now next resistance exists at 9200-9500 levels for Nifty. BankNifty is also forming double bottom, which on confirmation can give strong positive signals. But remember, overall market is bearish and the positive movement that we see is a Bear Market Rally which is very sharp but is always a trap and is considered as just a temporary reaction of the downfall. It is a good rally for trading but not for investment. Market would move towards 9200-9500 for Nifty. This positive movement of the bear rally can not extend above 10028 for Nifty even in the case of any extreme positiveness. Traders can hold long positions until Nifty holds above 8564 which is a reversal levels. Risk averse traders can consider stoploss at immediate support that exists at 8900 for Nifty.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.1737.62 crores whereas DIIs were net sellers of Rs.466.02 crores in cash market for last trading session. Nifty would see strong support at 8900-8820-8745-8665 whereas strong resistance would be seen at 9210-9346-9373-9405 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (9112) The support for the Nifty is 8900-8820-8745-8665 and the resistance to the up move is at 9210-9346-9373-9405 levels.

NSE BankNifty: (19914) The support for BankNifty is 19740-19580-19211-19118 and the resistance to the up move is 20210-20347-20500-20780 levels.

BSE Sensex: (31160) The support for the Sensex is 30927-30762-30680-30460 and the resistance to the up move is at 31390-31611-31880-32047 levels.

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