Indian Stock Market Opened positive for the day traders can go long in Nifty and BankNifty until it holds 8700 levels for Nifty and same happened. Indian Stock Market moved sharply positive and saw highs right near resistance levels of 8830 for Nifty. BankNifty saw lows right at support levels of 20165 like a dot. Finally, Indian Stock Market closed positive for the day.
Today Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone.Nifty has been holding 8700 levels for quite a long and would see strong support at those levels.Nifty would see sharp breakout once it closes above 8820 levels.Traders can hold long positions until Nifty holds 8714 spot levels on closing basis. Market would see reversal if Nifty closes below 8714 levels and BankNifty closes below 20078 levels. Until then every dip would be an opportunity for traders to go long in the market.
FIIs were net buyers of Rs.504.51 crores whereas DIIs were net sellers of Rs.224.76 crores in cash market for last trading session.Nifty would see strong support at 8740-8700-8688-8665 whereas strong resistance would be seen at 8830-8850-8900-8970 levels.