Market To Consolidate, Hold Long Until Nifty Above 15574

Last Trading Session: Indian Stock Market opened positive exactly as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market will continue to see positive momentum until Nifty holds above 15434 and exactly the same happened. Indian Stock Market moved sharply positive and traders who followed EquityPandit’s suggestions to hold long positions might have earned huge profits for the day. Market saw highs right at EquityPandit’s predicted resistance levels of 15770 for Nifty and 52380 for Sensex like a dot. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market will open positive. Technically, analysis will still remain the same. Indian Stock Market is still in a positive zone. Market will enter into the negative zone only if it closes below 15574 for Nifty and 34972 for BankNifty. Although the market is at its highs and over-stretched, traders can continue to hold long positions until the market holds above these reversal levels.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.186.46 crores whereas DIIs were net buyers of Rs.983.97 crores in the cash market for the last trading session. Nifty would see strong support at 15708-15660-15608-15565 whereas strong resistance would be seen at 15808-15885-15945-15970 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (15752) The support for the Nifty is 15708-15660-15608-15565 and the resistance to the up move is at 15808-15885-15945-15970 levels.

NSE BankNifty: (35444) The support for BankNifty is 35365-35240-35110-35035-34952 and the resistance to the up move is 35570-35660-35770-35880 levels.

BSE Sensex: (52329) The support for the Sensex is 52170-52035-51945-51865 and the resistance to the up move is at 52540-52660-52740-52815 levels.

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