Market Still Bullish, Continue Long Until Nifty Holds Above 17642 And BankNifty Above 37137

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Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that traders should continue to hold long positions in the market and exactly the same happened. The Indian Stock Market moved sharply positive. Traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day. Nifty and BankNifty closed right at EquityPandit’s predicted resistance levels of 17815 and 37740 like a dot.

Today: Indian Stock Market will open positive. Technically, analysis will still remain the same. The Indian Stock Market is still in a positive zone. Market would now consolidate around these levels before further rallies. Overall, the Indian market would be considered bullish until it holds above 17642 for Nifty and 37137 levels for BankNifty. Traders can initiate fresh short positions only if the market closes below these levels but until then traders should continue to hold long positions in the market.

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.496.27 crores whereas DIIs were net sellers of Rs.115.66 crores in the cash market for the last trading session. Nifty would see strong support at 17715-17650-17615-17505-17440 whereas strong resistance would be seen at 17880-17940-18035-18080 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17813) The support for the Nifty is 17715-17650-17615-17505-17440 and the resistance to the up move is at 17880-17940-18035-18080 levels.

NSE BankNifty: (37740) The support for Bank Nifty is 37515-37365-37240-37110 and the resistance to the up move is 37870-37952-38110-38270 levels.

BSE Sensex: (59745) The support for the Sensex is 59608-59440-59365-59265-59110 and the resistance to the up move is  59888-60075-60170-60340 levels.

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