Some Profit Booking To Be Seen But Market Bullish, Go Long At Dips

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that Indian Stock Market would consolidate and not initiate short positions until Nifty held above 15663 and exactly the same happened. Indian Stock Market moved sharply positive and finally, managed to close positive for the day.

Today: Indian Stock Market will open flat with negative bias. Technically, Indian Stock Market is in a positive zone for now. Market would be considered bullish until it holds above 15739 for Nifty and 34623 for BankNifty. Traders can continue to go long at dips until the market holds above these levels.

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.633.69 crores whereas DIIs were net sellers of Rs.649.29 crores in the cash market for the last trading session. Nifty would see strong support at 15815-15770-15708-15660-15608 whereas strong resistance would be seen at 15885-15945-15970-16035 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (15869) The support for the Nifty is 15815-15770-15708-15660-15608 and the resistance to the up move is at 15885-15945-15970-16035 levels.

NSE BankNifty: (35248) The support for BankNifty is 35075-34945-34808-34700-34615 and the resistance to the up move is 35380-35570-35662-35770 levels.

BSE Sensex: (52773) The support for the Sensex is 52608-52500-52365-52240-52035 and the resistance to the up move is at 52888-52945-53110-53270 levels.  

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