Market Still Bullish, Go Long At Dips Until 15694 Holds For Nifty

Last Trading Session: Indian Stock Market opened negative as predicted by EquityPandit. EquityPandit predicted that the market will see profit booking but every downfall would be an opportunity for traders to go long in the market and exactly the same happened. Indian Stock Market saw sharp profit booking but saw strong support near EquityPandit’s predicted support levels of 15770 for Nifty, 35440 for BankNifty and 52608 for Sensex like a dot. Market recovered sharply from there and saw highs near EquityPandit’s predicted resistance levels of 15885. Finally, Indian Stock Market closed positive for the day.

Today: Indian Stock Market will open flat. Technically, Indian Stock Market is still in a positive zone. Market would enter into the negative zone only if it closes below 15694 for Nifty and 35172 for BankNifty but until then, market would be considered bullish and traders can go long at every dip in the market.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.1303.95 crores whereas DIIs were net buyers of Rs.1335.91 crores in the cash market for the last trading session. Nifty would see strong support at 15770-15708-15660-15615 whereas strong resistance would be seen at 15885-15945-15970-16035 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (15854) The support for the Nifty is 15770-15708-15660-15615 and the resistance to the up move is at 15885-15945-15970-16035 levels.

NSE BankNifty: (35668) The support for Bank Nifty is 35515-35440-35365-35240 and the resistance to the up move is 35770-35888-36035-36170-36380 levels.

BSE Sensex: (52904) The support for the Sensex is 52770-52608-52500-52365 and the resistance to the up move is at 52110-52240-52365-52508 levels.

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