Market Enters Positive Zone, Go Long At Every Dip In The Market

Last Trading Session: Indian Stock Market opened negative as predicted by EquityPandit. EquityPandit predicted that the Indian Stock Market will enter into a positive zone once it closes above 17698 for Nifty and 37734 for BankNifty. Traders should initiate fresh long positions if the market closes above these reversal levels and the same happened. Indian Stock Market moved sharply positive after a negative opening and saw highs right near EquityPandit’s predicted resistance level of 59770 for Sensex. Finally, Indian Stock Market closed gap positive for the day. BankNifty closed right at EquityPandit’s predicted resistance levels of 37740 like a dot.

Today: Indian Stock Market will open flat. Technically, the Indian Stock Market including Nifty, BankNifty and Sensex have entered into a positive zone. Market would now be considered bullish until it holds above 17525 for Nifty and 36949 for BankNifty. Traders can go long at dips in the market and hold long positions until these reversal levels hold on a closing basis. For now, every dip in the market would be an opportunity to go long in the market.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.1915.08 crores whereas DIIs were net buyers of Rs.1868.23 crores in the cash market for the last trading session. Nifty would see strong support at 17770-17715-17650-17615-17505 whereas strong resistance would be seen at 17880-17940-18035-18075 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17822) The support for the Nifty is 17770-17715-17650-17615-17505 and the resistance to the up move is at 17880-17940-18035-18075 levels.

NSE BankNifty: (37741) The support for Bank Nifty is 37515-37365-37240-37110 and the resistance to the up move is 37870-37952-38110-38270 levels.

BSE Sensex: (59745) The support for the Sensex is 59608-59440-59365-59265 and the resistance to the up move is at 59888-60075-60170-60340 levels.

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