Market Enters Positive Zone, Go Long At Every Downfall Until 8950 Holds For Nifty

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that traders should go long above 9170 and exactly same happened. Indian Stock Market moved sharply positive and finally breached Equitypandit’s predicted reversal levels for the day. Equitypandit suggested aggressive traders to go long near 9000 levels for Nifty with stoploss below 9000 on closing basis and traders, who followed the advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market, including Nifty, BankNifty and Sensex have entered into positive zone. Today, we have F&O Expiry and market would see huge volatility. Now market looks bullish for short term and we can see levels of 9600-9800-10028 in upcoming days for Nifty. Traders are suggested to go long at every dip in the market until market holds above 8950 for Nifty and 17442 for BankNifty. Every downfall would be an opportunity for traders to go long in the market for now. As you see in the Nifty chart below that the candle has just closed on the edge of upper trendline of the channel. A positive close today would confirm the short term bullish sentiments.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.334.74 crores whereas DIIs were net buyers of Rs.2408.85 crores in the cash market for the last trading session. Nifty would see strong support at 9245-9160-9090-8980 whereas strong resistance would be seen at 9346-9405-9540 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

Important Results To Be Disclosed Today: CEAT Ltd, Federal Bank Ltd, Heidelberg Cement India, IIFL Finance, Lupin, Prism Johnson, Radico Khaitan, Rain Industries and TVS Motor Company.

NSE Nifty: (9315)  The support for the Nifty is 9245-9160-9090-8980 and the resistance to the up move is at 9346-9405-9540 levels.

NSE BankNifty: (18711) The support for BankNifty is 18504-18380-18035 and the resistance to the up move is 19170-19380-19516-19770 levels.

BSE Sensex: (31605) The support for the Sensex is 31490-31340-31280-31025 and the resistance to the up move is at 31880-32047-32240-32380 levels.

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