The Only Trade For Now is to Go Long at Dips

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened negative for the day. EquityPandit predicted that market would see some profit booking today and it would be an opportunity for traders to go long in the market at dips and exactly same happened. Indian Stock Market saw sharp profit booking as predicted by EquityPandit. Finally, Indian Stock Market closed flat for the day.

Today: Indian Stock Market would open positive. RBI Credit Policy would be disclosed today. We don’t expect any further rate cut in this policy and hence market would not react much by RBI Policy today. Technically, Nifty and Bank Nifty are both in positive trend and traders should go long in Nifty or Bank Nifty at every dip in the market. Some further profit booking can’t be ruled out but overall, market is positive and the trade is in long direction. FIIs were net sellers of Rs.1053.84 crores whereas DIIs were net buyers of Rs.601.73 crores in last trading session. Nifty would see strong support at 7880-7850-7815-7800 whereas strong resistance would be seen at 7958-7980-8008-8055 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

NSE Nifty: (7935) The support for the Nifty is 7880-7850-7815-7800 and the resistance to the up move is at 7958-7980-8008-8055 levels.

NSE BankNifty: (17430) The support for BankNifty is at 17195-17050-16960-16875 and the resistance to the up move is at 17480-17570-17652-17827 levels.

BSE Sensex: (26146) The support for the Sensex is at 26950-25890-25760-25695-25590 and the resistance to the up move is at 26180-26220-26340-26432 levels.

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