Market To Remain Range Bound, Bullish Until It Holds Above 15597 For Nifty

Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market will consolidate for now and the same happened. Indian Stock Market opened positive but was not able to sustain higher levels and fell down sharply. BankNifty saw support right near EquityPandit’s predicted support levels of 34952. Finally, Indian Stock Market closed marginally negative for the day.

Today: Indian Stock Market will open flat. Technically, Indian Stock Market is still in a positive zone. Market will enter into the negative zone once it closes below 15597 for Nifty and 35033 levels for BankNifty. Traders can close long positions and initiate fresh short positions only if the market closes below these levels but until then traders can hold long positions.

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.1422.71 crores whereas DIIs were net sellers of Rs.1626.98 crores in the cash market for the last trading session. Nifty would see strong support at 15708-15660-15608-15565 whereas strong resistance would be seen at 15808-15885-15945-15970 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (15740) The support for the Nifty is 15708-15660-15608-15565 and the resistance to the up move is at 15808-15885-15945-15970 levels.

NSE BankNifty: (35085) The support for BankNifty is 35035-34952-34865-34700 and the resistance to the up move is 35380-35570-35660-35770 levels.

BSE Sensex: (52275) The support for the Sensex is 52035-51945-51865 and the resistance to the up move is at 52540-52660-52740-52815 levels.

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