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Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened with positive bias. Indian Stock Market saw some profit booking while opening, near to EquityPandit’s predicted support levels but then moved up sharply on the expectations of rate cut in RBI Credit Policy. Market moved up sharply and saw highs exactly near EquityPandit’s predicted resistance levels of 7380 levels for Nifty. Finally Indian Stock Market closed near day highs below EquityPandit’s predicted resistance levels.
Today: Indian Stock Market may open positive with 15-30 points for Nifty. Now RBI Credit Policy would play a major role in the next trend for Indian Stock Market. If there is any rate cut today, which is not expected by street, then we can see a sharp rally towards 7500 levels for Nifty else Nifty would see some profit booking, if there is no rate cut, which is already expected by the street. Nifty would see strong resistance at 7380-7500-7570 levels whereas support would be seen at 7300-7240 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (7362) The support for the Nifty is at 7300-7240 and the resistance to the up move is at 7380-7500-7570 levels.
BSE Sensex: (24685) The support for the Sensex is at 24450-24270-24150 and the resistance to the up move is at 24850-25000-25500 levels.
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