Indian Stock Market opened flat for the day.Traders to go long at dips until Nifty holds 8862 levels. Traders few days back that market is headed towards 52 week highs so, traders should hold long positions in the market and exactly same happened. Indian Stock Market moved sharply positive and Nifty saw new 52 weeks highs. BankNifty already made new 52 weeks highs few days back. Traders, who followed advice might have earned huge profits. Finally, Indian Stock Market closed positive for the day.
Indian Stock Market to open gap negative.Technically, Indian Stock Market is still in positive zone. Next two weeks would be full of volatility due to many events. Quarterly GDP numbers and Infrastructure Output would be disclosed on February 28, 2017. GST council meet would be held on March 4 and 5. UP Election outcome would be on March 11, 2017 that would affect the Indian Stock Market direction. For now, traders can go long at dips until Nifty holds 8883 levels and BankNifty holds 20650 on closing basis. Once Nifty and BankNifty closes below these levels, then traders can initiate fresh short positions in the market. Overall, market is in positive momentum but overstretched.