Market Near Reversal Levels, Go Long At Dips Until Nifty Holds Above 17052

Last Trading Session: Indian Stock Market opened gap negative for the day as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market would continue to see downfall but traders can go long at dips until Nifty closes below 17052 and the same happens. The Indian Stock Market saw a sharp downfall but finally recovered sharply for the day. Traders, who followed EquityPandit’s advice and went long at dips might have earned whopping profits for the day. Finally, the Indian Stock Market closed negative for the day.

Today: Indian Stock Market will open positive. Technically, the Indian Stock Market is currently in a positive zone. Market would enter into the negative zone only if it closes below 17052 for Nifty and 37164 for BankNifty but until then traders can go long at dips. Market has been tinkering with the reversal levels for many days. Traders can initiate fresh long positions only if it closes below these levels but until then every downfall is an opportunity to go long in the market.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.3245.52 crores whereas DIIs were net buyers of 4108.58 crores in the cash market for the last trading session. Nifty would see strong support at 17025-16955-16865-16795 whereas strong resistance would be seen at 17165-17215-17270-17340 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17092) The support for the Nifty is 17025-16955-16865-16795 and the resistance to the up move is at 17165-17215-17270-17340 levels.

NSE BankNifty: (37372) The support for Bank Nifty is  37025-36865-36715-36608 and the resistance to the up move is 37515-37660-37770-57888 levels.

BSE Sensex: (57301) The support for the Sensex is 57240-57075-56950-56815 and the resistance to the up move is 57540-57660-57815-57880 levels.

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