Go Long In Market If Nifty Closes Above 7440 Levels

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. EquityPandit predicted that Nifty is still in negative zone whereas BankNifty is in positive zone and hence traders should wait until the trend is confirmed. Nifty moved sharply positive and saw strong resistance near EquityPandit’s predicted resistance levels of 7485 levels. BankNifty also saw highs right near EquityPandit’s predicted resistance levels of 15680 like a dot. Sensex also saw strong resistance at EquityPandit’s predicted resistance levels of 24660. Market fell down sharply from day highs. BankNifty saw lows right at EquityPandit’s predicted support levels of 15450 like a dot and bounced from there. Finally, Indian Stock Market closed flat for the day as per EquityPandit’s predictions.

Today: Indian Stock Market would open positive. Technically, BankNifty is in positive zone whereas Nifty is still in negative zone. Today is F&O Expiry Day and huge volatility would be seen in the market. Today, Nifty should breach the resistance of 7440 and enter into positive zone. Traders can go long as of now in the market but watch carefully that Nifty should close above 7440 levels to take long positions home. US Crude Inventory data was lower then expected that showed a jump in demand which is positive news for Crude. Global Market would see positive movement for today and hence traders can continue long positions in BankNifty. Few Important Results would be disclosed today that would affect Indian Stock Market direction. FIIs were net seller of Rs.366.93 crores whereas DIIs were net buyers of 499.99 crores in last trading session. Nifty would see strong support at 7420-7367-7330-7302 whereas strong resistance would be seen at 7485-7507-7567-7606 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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Important Results to be disclosed today: Bharti Airtel, Dabur India, Emami Ltd., GlenMark Pharm, HCC, ICICI Bank, Info Edge, Maruti Suzuki, Muthoot Finance, Syndicate Bank, Titan and Vedanta Limited.

NSE Nifty: (7438) The support for the Nifty is 7420-7367-7330-7302 and the resistance to the up move is at 7485-7507-7567-7606 levels.

NSE BankNifty: (15535) The support for BankNifty is at 15450-15336-15200-15060 and the resistance to the up move is at 15600-15680-15805-15960 levels.

BSE Sensex: (24492) The support for the Sensex is at 24450-24245-24156-24080 and the resistance to the up move is at 24580-24660-24786-25915 levels.

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