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Last Trading Session: Exactly as predicted by EquityPandit that market would open negative and 5760 would act as immediate support for Nifty and exactly same happened. Market opened negative as per EquityPandit’s predictions and went down sharply. Market closed exactly on EquityPandit’s predicted support levels of 5760 like a dot. Sensex also saw lows exactly near EquityPandit’s predicted support levels of 18950.
Today: Indian Stock Market likely to open gap negative. Lower than expected IIP numbers pushed market lower. Now growing rates and economy woes are biggest worries for Indian Stock Market. Nifty possesses immediate support at 5700-5650-5600 levels whereas resistance would be seen at 5800-5850 levels for Nifty. Nifty has achieved EquityPandit’s given targets of 5750-5700 levels predicted when Nifty was hovering at 6100 levels and hence traders who follow Equitypandit might have made huge returns. Traders can still short Nifty below 5742 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
BSE Sensex: (19041) The support for the Sensex is at 18950-18880-18600 and the resistance to the up move is at 19075-19250-19420 levels.
NSE Nifty: (5760) The support for the Nifty is at 5700-5650-5600 and the resistance to the up move is at 5770-5800-5850 levels.
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