Analysis Remains Same, Continue Long Positions with Stoploss of 7845 for Nifty

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that Indian Stock Market is still in positive zone and traders can hold long positions with strict stoploss of 7850 levels for Nifty and exactly same happened. Indian Stock Market saw some profit booking but finally moved sharply positive to close positive for the day.

Today: Indian Stock Market would flat. Since, market closed flat for last trading session, analysis would remain same. Technically, Indian Stock Market is still in positive zone. The trade for now is to hold long positions until Nifty holds levels of 7845. Overall, Market would consolidate for last 2 days of the year. FIIs were net buyers of Rs.8.49 crores whereas DIIs were net buyers of Rs.6.44 crores in last trading session. Nifty would see strong support at 7893-7850-7825-7775 whereas strong resistance would be seen at 7980-8005-8035 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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NSE Nifty: (7929) The support for the Nifty is 7893-7850-7825-7775 and the resistance to the up move is at 7980-8005-8035 levels.

NSE BankNifty: (16991) The support for BankNifty is at 16840-16750-16650-16560 and the resistance to the up move is at 17015-17111-17230-17305 levels.

BSE Sensex: (26079) The support for the Sensex is at 25950-25850-25688-25540 and the resistance to the up move is at 26060-26185-26250-26431 levels.

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