Market Strong Until Nifty Holds Above 15330, Hold Long Positions For Now

Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that Indian Stock Market is still in a positive zone and traders can continue to go long at dips or hold long positions in the market and exactly the same happened. Indian Stock Market saw some profit booking and made lows near EquityPandit predicted support levels of 15385. Finally, Indian Stock Market recovered sharply from there and saw highs below EquityPandit’s predicted resistance levels of 15615. Finally, Indian Stock Market closed gap positive and Nifty closed right below EquityPandit’s predicted resistance levels of 15585 like a dot.

Today: Indian Stock Market will open flat with positive bias. Technically, Indian Stock Market is still in a positive zone. Market will be considered strong and will continue to see new record highs until it holds above 15330 for Nifty and 34600 levels for BankNifty. Market will enter into the negative zone only if it closes below these levels and until then traders can continue to hold long positions.

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.2412.39 crores whereas DIIs were net buyers of Rs.179.78 crores in the cash market for the last trading session. Nifty would see strong support at 15515-15445-15385-15340 whereas strong resistance would be seen at 15608-15660-15715-15770 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (15583) The support for the Nifty is 15515-15445-15385-15340 and the resistance to the up move is at 15608-15660-15715-15770 levels.

NSE BankNifty: (35527) The support for BankNifty is 35365-35240-35110-35035-34865 and the resistance to the up move is 35660-35888-36035-36170 levels.

BSE Sensex: (51937) The support for the Sensex is 51770-51608-51515-51440 and the resistance to the up move is at 52110-52240-52380-52540 levels.

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