Nifty To Enter Into Positive Zone Only If It Closes Above 14789, Until Then Go Short At Rally

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that traders should continue to hold short positions until Nifty holds below 14789. Indian Stock Market moved sharply positive. Finally, Indian Stock Market closed the gap positive for the day.

Today: Indian Stock Market would open positive. Technically, Indian stock Market is still in the negative zone. Market would enter into a positive zone once it closed above 14789 for Nifty and 33167 for BankNifty. Traders can initiate fresh long positions once the market closes above these levels but until then traders can go short at every positive rally.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.1110.50 crores whereas DIIs were net sellers of Rs.240.61 crores in the cash market for the last trading session. Nifty would see strong support at 14601-14540-14470-14365 whereas strong resistance would be seen at 14715-14770-14818-14880 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (14618) The support for the Nifty is 14601-14540-14470-14365 and the resistance to the up move is at 14715-14770-14818-14880 levels.

NSE BankNifty: (32784) The support for BankNifty is 32540-32365-32270-32110 and the resistance to the up move is 32888-33075-33240-33380 levels.

BSE Sensex: (48678) The support for the Sensex is 48506-48440-48365-48240 and the resistance to the up move is at 48888-49075-49170-49315-49380  levels.

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