Nifty Forms DOJI Candlestick, Initiate Fresh Long If Nifty Closes Above 14696

Last Trading Session: Indian Stock Market opened gap positive for last trading session. Market moved sharply positive from there but managed to close at opening levels. EquityPandit suggested traders since March 16, 2021 to go short at every positive rally in the market and the market fell down sharply as predicted with around 2500 points profits for BankNifty. Traders, who followed EquityPandit’s advice might have earned huge profits in the last 15 days. Finally, Indian Stock Market closed positive in the last trading session.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in a negative zone. Market has seen sharp recovery from its strong support. Market would enter into a positive zone once it closes above 14696 for Nifty and 33932 for BankNifty. Nifty has formed a DOJI candlestick in the last trading session which is indecisive in nature. Traders can initiate a fresh long position once the market closes above the reversal levels. For now, traders can book profits in their short positions at any dip in the market. Traders should not initiate any short position now until market breaches last week lows.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.50.13 crores whereas DIIs were net buyers of Rs.1703.14 crores in the cash market for the last trading session. Nifty would see strong support at 14465-14380-14325-14270 whereas strong resistance would be seen at 14590-14660-14697-14745 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (14507) The support for the Nifty is 14465-14380-14325-14270 and the resistance to the up move is at 14590-14660-14697-14745 levels.

NSE BankNifty: (33318) The support for BankNifty is 33165-33035-32865-32700 and the resistance to the up move is 33608-33888-33965-34075 levels.

BSE Sensex: (49009) The support for the Sensex is 48880-48715-48606-48500 and the resistance to the up move is at 49270-49385-49506-49660-49785 levels.

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