Market Still Consolidating, Go Long At Dips Until Nifty Above 17957

Last Trading Session: Indian Stock Market opened positive exactly as predicted by EquityPandit. EquityPandit predicted that the Indian Stock Market would open positive and the market would be considered bullish until it holds above EquityPandit’s predicted reversal levels of 17818 for Nifty. EquityPandit also predicted that traders can go long at dips and exactly the same happened. Indian Stock Market moved positive and finally closed flat marginally positive for the day.

Today: Indian Stock Market will open positive. Technically, analysis would remain the same. Nifty is still in the positive zone whereas BankNifty is in the negative zone. BankNifty would enter into the positive zone only if it closes above 39207 levels. Market would continue to consolidate but would still be considered bullish until Nifty holds above 17957 levels for Nifty. Traders can consider dips to go long in the market.

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.424.74 crores whereas DIIs were net buyers of Rs.1524.67 crores in the cash market for the last trading session. Nifty would see strong support at 18035-17952-17865-17815 whereas strong resistance would be seen at 18140-18170-18270-18340 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (18109) The support for the Nifty is 18035-17952-17865-17815 and the resistance to the up move is at 18140-18170-18270-18340 levels.

NSE BankNifty: (38702) The support for Bank Nifty is 38615-38508-38365-38240 and the resistance to the up move is 38880-39035-39170-39380-39515 levels.

BSE Sensex: (60718) The support for the Sensex is 60515-60365-60240-60110 and the resistance to the up move is 60888-60952-61075-61185 levels.

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