Continue Long positions until Nifty holds 7900 levels

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that we would not see any rate cut today from RBI and hence market would remain lacklusture today and exactly same happened. EquityPandit also predicted that some profit booking would be seen and trade is to go long on those dips. Traders who followed EquityPandit’s advice might have earned decent profits today. Nifty saw strong resistance near EquityPandit’s predicted resistance levels of 7980 and closed just below EquityPandit’s resistance of 7958 like a dot. Sensex also closed below EquityPandit’s predicted resistance levels of 26180 levels. Finally, Indian Stock Market closed flat for the day.

Today: Indian Stock Market would open flat. Technically, Nifty and Bank Nifty are both in positive trend but market is loosing momentum as of now. Traders should continue to hold long positions until Nifty holds 7900 levels by closing. Overall market is positive but the right trade is to go long at dips and sell on rally as market would continue to see sideways movement in a rangebound region. FIIs were net sellers of Rs.106.78 crores whereas DIIs were net buyers of Rs.194.75 crores in last trading session. Nifty would see strong support at 7880-7850-7815-7800 whereas strong resistance would be seen at 7980-8008-8055-8105 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

NSE Nifty: (7955) The support for the Nifty is 7880-7850-7815-7800 and the resistance to the up move is at 7980-8008-8055-8105 levels.

NSE BankNifty: (17398) The support for BankNifty is at 17195-17050-16960-16875 and the resistance to the up move is at 17480-17570-17652-17827 levels.

BSE Sensex: (26169) The support for the Sensex is at 26950-25890-25760-25695-25590 and the resistance to the up move is at 26180-26220-26340-26432 levels.

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