Go Long At Dips Until Market Above 15744 For Nifty And 35058 For BankNifty

Last Trading Session: Indian Stock Market opened gap negative as predicted by EquityPandit. EquityPandit predicted that the market enters the positive zone and traders can go long at every dip in the market. Indian Stock Market moved sharply positive for the day but was not able to sustain higher levels and saw profit booking at the end of the trading session. BankNifty saw a sharp rally for the day. Finally, Nifty closed flat while BankNifty closed gap positive for the day.

Today: Indian Stock Market will open negative. Technically, Indian Stock Market is still in a positive zone. Market will enter into the negative zone only if it closes below 15744 for Nifty and 35058 for BankNifty. Traders can go long at dips until the market holds above these reversal levels. Initiate short positions only if the market closes below these levels.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.543.30 crores whereas DIIs were net buyers of Rs.521.30 crores in the cash market for the last trading session. Nifty would see strong support at 15715-15660-15615-15540 whereas strong resistance would be seen at 15885-15945-16035-16080 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (15818) The support for the Nifty is 15715-15660-15615-15540 and the resistance to the up move is at 15885-15945-16035-16080 levels.

NSE BankNifty: (35579) The support for BankNifty is 35440-35365-35240-35035 and the resistance to the up move is 35660-35770-35888-35952 levels.

BSE Sensex: (52861) The support for the Sensex is 52740-52615-52508-52440 and the resistance to the up move is at 52962-53075-53240-53365 levels.

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