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Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened 15 points positive for Nifty and Nifty had seen strong short-covering for the day. Breaching EquityPandit’s predicted levels of 6525 forced Nifty to see a sharp movement in positive direction and closing at record highs. Sensex also saw highs exactly at EquityPandit’s predicted resistance levels of 22075 like a dot.
Today: Indian Stock Market to open flat with negative bias. Technically, Nifty has seen a breakout from previous range. Some small profit booking can be seen today but overall market direction is positive. 6600-6632 would act as a strong resistance for Nifty. Whereas support would be seen at 6525-6500-6480. Market would remain rangebound between EquityPandit’s predicted support and Resistance levels. Nifty may see some short-covering for the day. Breach of any of EquityPandit’s predicted Support or Resistance level, would force Nifty to see sharp movement in that direction. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (6583) The support for the Nifty is at 6525-6500-6480 and the resistance to the up move is at 6600-6632 levels.
BSE Sensex: (22055) The support for the Sensex is at 21820-21720 and the resistance to the up move is at 22075-22200 levels.
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