BankNifty Enters Positive Zone, Go Long If Nifty Closes Above 14551

Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that Nifty and Sensex formed DOJI pattern and traders can initiate fresh long positions in Nifty closes above 14551. Indian Stock Market moved sharply positive and saw resistance right at EquityPandit’s predicted reversal levels of 14551 for Nifty. Finally, Indian Stock Market closed the gap positive for the day.

Today: Indian Stock Market would open flat. Technically, BankNifty has entered into the positive zone while Nifty is still in the negative zone. Nifty would enter into the positive zone if it closes above 14551. If Nifty closes above those levels then traders can go long in the market. Overall, the market has shown some strength as BankNifty has entered into a positive zone but traders should wait for Nifty to close above 14551 for the confirmation of the bullishness of the trend.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.111.89 crores whereas DIIs were net buyers of Rs.1022.57 crores in the cash market for the last trading session. Nifty would see strong support at 14440-14380-14325-14270-14215 whereas strong resistance would be seen at 14506-14585-14660-14715 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (14485) The support for the Nifty is 14440-14380-14325-14270-14215 and the resistance to the up move is at 14506-14585-14660-14715 levels.

NSE BankNifty: (32275) The support for BankNifty is 32035-31940-31865-31740 and the resistance to the up move is  32440-32506-32660-32770 levels.

BSE Sensex: (48387) The support for the Sensex is 48240-48110-48035-47888 and the resistance to the up move is at 48515-48608-48718-48888  levels.

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