Market Enters The Positive Zone, Go Long At Every Dip In The Market

Last Trading Session: Indian Stock Market opened gap positive as predicted by EquityPandit. EquityPandit predicted that traders can go long in the market once it closes above 15812 for Nifty and 35191 for BankNifty and exactly the same happened. Indian Stock Market moved sharply positive and managed to close the gap positive for the day.

Today: Indian Stock Market will open negative. Technically, Indian Stock Market including Nifty, BankNifty and Sensex have entered into a positive zone. Market would now be considered bullish until it holds above 15681 for Nifty and 34673 for BankNifty. As suggested yesterday, narrowing Bollinger Bands suggests a sharp rally on either side and traders should follow reversal levels very strictly. Market may see some profit booking after the sharp rally that we saw yesterday but for now, traders can go long at every dip in the market.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.2228.09 crores whereas DIIs were net buyers of Rs.1810.99 crores in the cash market for the last trading session. Nifty would see strong support at 15715-15660-15615-15540 whereas strong resistance would be seen at 15885-15945-16035-16080 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (15834) The support for the Nifty is 15715-15660-15615-15540 and the resistance to the up move is at 15885-15945-16035-16080 levels.

NSE BankNifty: (35212) The support for BankNifty is 35035-34880-34705-34606 and the resistance to the up move is 35380-35515-35608 levels.

BSE Sensex: (52880) The support for the Sensex is 52740-52615-52508-52440 and the resistance to the up move is at 52962-53075-53240-53365 levels.

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