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Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened with gap positive and moved up sharply towards EquityPandit’s resistance of 7500 levels. Market consolidated near 7500 levels and then profit booking was seen in Nifty. BankNifty has seen a 10% circuit in last session as expected by EquityPandit. Market fell down after first few hours of trading and looks like some political party has done selling with the help of Hedge funds. Finally, Market closed positive for the day.
Today: Indian Stock Market may open gap positive with 60-100 points for Nifty and 150-300 points for Sensex led by strong sentiments developed among retail and institutional investors due to strong party won in LokSabha elections with record majority. Overall, market would remain in positive momentum and we can see levels of 7500-8000 in upcoming days for Nifty. Nifty would see strong resistance at 7420-7570-7700 levels whereas support would be seen at 7200-7108-7000 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Important Financial Results to be declared today: Jubilant Foodworks, Reliance Infra, Reliance Power, Whirlpool.
NSE Nifty: (7203) The support for the Nifty is at 7200-7108-7000 and the resistance to the up move is at 7420-7570-7700 levels.
BSE Sensex: (24121) The support for the Sensex is at 24600-25000-26500 and the resistance to the up move is at 23850-23000-22000 levels.
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