Indian Stock Market closed negative for the second day in a row and saw lows right near predicted support levels of 9370. Nifty already achieved target of 9415 levels. Indian Stock Market fell down sharply and finally, closed negative for the day. Nifty was able to close above its crucial psychological levels of 9400.
Today Indian Stock Market would open positive. Technically, Indian Stock Market including Nifty, BankNifty and Sensex are still in positive zone. Nifty would enter into negative zone once it closes below 9367 levels whereas BankNifty would enter into negative zone if it closes below 22629 levels. Traders can hold long positions until Nifty manages to close above 9367 levels. Currently market is holding its important support levels of 9370-9350 for Nifty and until then trade is to go long at dips. Once Nifty closes below 9367 levels and BankNifty closes below 22629 levels, traders can initiate fresh short positions.