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Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened flat with positive bias. Nifty remained rangebound between EquityPandit’s predicted support and resistance levels of 7580 and 7700. IT and Pharma sector led the market, exactly as per EquityPandit’s predictions. IIP and CPI data which were disclosed on Thursday evening were encouraging for the street. Finally, Nifty closed positive for the day.
Today: Indian Stock Market may open flat. Iraq issues are negative for Global Market and hence global market is negative today. IIP and CPI numbers which were disclosed yesterday were encouraging for the street and would drive the market further. Technically, analysis would remain same and 7580-7500 would act as strong support for Nifty. Banking sector would also see fresh upmove from here. Traders should enter at every down move as Nifty would be considered positive until it holds 7500 levels. Nifty would see strong resistance at 7700-7800-7877 levels for Nifty, whereas support would be seen at 7580-7500. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (7650) The support for the Nifty is at 7580-7500-7450 and the resistance to the up move is at 7700-7800-7877 levels.
BSE Sensex: (25576) The support for the Sensex is at 25450-25340-25000 and the resistance to the up move is at 25650-25720-25880 levels.
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