Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. EquityPandit predicted that market is still in positive zone and traders can go long at dips. EquityPandit also predicted that Nifty 50 would see resistance at 9218 levels and exactly same happened. Indian Stock Market moved sharply positive after opening but saw profit booking right at EquityPandit’s predicted resistance levels of 9218 like a dot. Finally, Indian Stock Market closed flat for the day with some pressure on BankNifty.
Today: Indian Stock Market would open negative. Technically, Indian Stock Market is still in positive zone. Now some consolidation may be seen before further positive rally but overall market would remain bullish until Nifty holds 9109 levels on closing basis. FIIs continuous inflows are supporting Indian Stock Market and would continue to keep market bullish in March 2017. We may see some sharp correction in April 2017 due to high valuations and corporate earnings. Nifty would see reversal of the trend once it closes below 9109 levels. So, traders can go long at every dip until Nifty holds 9109 levels and Nifty Bank holds 21029 levels on closing basis.
FIIs were net buyers of Rs.1532.39 crores whereas DIIs were net sellers of Rs.711.50 crores in cash market for last trading session. Nifty would see strong support at 9130-9097-9060-9020 whereas strong resistance would be seen at 9180-9200-9218-9254 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (9160) The support for the Nifty is 9130-9097-9060-9020 and the resistance to the up move is at 9180-9200-9218-9254 levels.
NSE BankNifty: (21175) The support for BankNifty is at 21125-21055-20985-20900 and the resistance to the up move is at 21275-21380-21500-21720 levels.
BSE Sensex: (29649) The support for the Sensex is at 29600-29480-29350-29240 and the resistance to the up move is at 29700-29880-29950 levels.
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