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Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened flat with positive bias. Nifty moved positive upto 7700 levels led by IT and Pharma stocks, exactly as per EquityPandit’s predictions. Strong Profit booking was seen from those levels as per EquityPandit’s predictions and Nifty saw lows near EquityPandit’s predicted support levels of 7580 levels. Traders, who followed EquityPandit’s suggestions might have earned huge profits on Wednesday. Finally, Nifty closed negative for the day. Sensex also saw support and resistance near EquityPandit’s predicted support and resistance levels of 25340 and 25720 levels respectively. Finally Sensex closed just above EquityPandit’s predicted support levels of 25450 levels.
Today: Indian Stock Market may open flat with positive bias. Technically, analysis would remain same and 7500 would act as strong support for Nifty. IT, Pharma and railway sectors may still lead the market for next few days. Traders should enter at every down move as Nifty would be considered positive until it holds 7500 levels. There may still be some profit booking but traders and investors should not get confused correction with downtrend and should buy at every dip as this is the bull market. Nifty would see strong resistance at 7700-7800-7877 levels for Nifty, whereas support would be seen at 7580-7500-7450. IIP and CPI data which would be disclosed this week would decide further market direction. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (7627) 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: (25474) 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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