Go Long At Dips Until Nifty Holds Above 8800, Resistance Near 9200

Last Trading Session: Indian Stock Market opened flat for the day as predicted. EquityPandit predicted that market would open flat and traders can go long at every dip in the market and exactly same happened. Indian Stock Market moved sharply negative and saw lows right near EquityPandit’s predicted support levels of 8900 for Nifty and 30460 for Sensex. Finally, Indian Stock Market moved recovered sharply from EquityPandit support but still managed to close negative for the day.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone for now. Note that this is a bear rally and hence it is temporary in nature. Traders can go long at dips for now until market holds above 8587 for Nifty and 18300 for BankNifty. 8880 is the immediate support for Nifty and upside is open till 9130-9200 for Nifty which would act as nearest resistance. So traders can trade accordingly. Market may see profit bookings near resistance levels. As stated earlier, investors can wait for market to correct again.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.1243.74 crores whereas DIIs were net sellers of Rs.1096.89 crores in cash market for last trading session. Nifty would see strong support at 8900-8820-8745-8665 whereas strong resistance would be seen at 9050-9127-9210-9346 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (8994) The support for the Nifty is 8900-8820-8745-8665 and the resistance to the up move is at 9050-9127-9210-9346 levels.

NSE BankNifty: (19488) The support for BankNifty is 19211-19118-18940-18880 and the resistance to the up move is 19770-19965-20067-20210 levels.

BSE Sensex: (30690) The support for the Sensex is 30460-30280-30115 and the resistance to the up move is at 30820-31067-31210-31390 levels.

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