Last Trading Session: Market opened negative and saw strong supports at EquityPandit’s predicted support levels of 5250 like a dot. Finally market went sharply positive and closed above 5300 on F&O Expiry.
Today: Indian Stock Market likely to open flat. Now direction of Indian Stock Market would not depend on today’s movements. Positive close can give an opportunity for further positive movements but if market closed negative today then we would see sharp downfall in days to come. Quarterly GDP Numbers would be disclosed today, which would direct the market sentiments. Furthermore, Federal Reserve Chairman Ben Bernanke’s speech in Jackson Hole (Today Evening) and Mario Draghi’s announcement would have greater impact on global market. Hence traders are suggested to exit positions today and not to take any position home as the effect would be see in Monday Market opening. Nifty possess strong support at 5280-5250 whereas resistance may be seen near 5330-5370-5390. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.
BSE Sensex: (17542) The support for the Sensex is at 17380-17200 and the resistance to the up move is at 17600-17760-17800.
NSE Nifty: (5315) The support for the Nifty is at 5280-5250 and the resistance to the up move is at 5330-5370-5390.
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