Nifty Enters Into Positive Zone, Continue To Hold Long Positions In The Market

Last Trading Session: Indian Stock Market opened gap positive for the day. EquityPandit predicted that traders can initiate a fresh long position if Nifty closes above 14789 and exactly the same happened. Indian Stock Market moved sharply positive and managed to close right near EquityPandit’s predicted resistance levels of 14818. BankNifty also saw highs right near EquityPandit’s predicted resistance levels of 33240 levels.

Today: Indian Stock Market would open gap positive. Technically, Nifty has entered into positive zone while BankNifty is still in negative zone. BankNifty would enter into the positive zone once it closes above 33167. Overall, the market is showing strength and traders can go long at dips. Once BankNifty closes above 33167, traders can take long positions home as we would see a sharp positive rally in that case.

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Nifty:

Bank Nifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.1142.75 crores whereas DIIs were net buyers of Rs.1468.09 crores in the cash market for the last trading session. Nifty would see strong support at 14740-14707-14608 whereas strong resistance would be seen at 14880-14945-15035-15080 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (14823) The support for the Nifty is 14740-14707-14608 and the resistance to the up move is at 14880-14945-15035-15080 levels.

NSE BankNifty: (32904) The support for BankNifty is 32715-32540-32365-32270 and the resistance to the up move is 33075-33240-33380-33515 levels.

BSE Sensex: (49206) The support for the Sensex is 49110-49025-49880-49800 and the resistance to the up move is at 49380-49440-49515-49606  levels.

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