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Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened with positive with 15 points for Nifty. RBI kept the key rates unchanged but cut the SLR rates by 50 bps which freed 40,000 crores in the market. Market saw some upmoves and finally managed to close above 7400 levels for Nifty. Sensex also closed just near EquityPandit’s predicted resistance levels of 24850.
Today: Indian Stock Market may open flat. Technically, now Nifty should consolidate between EquityPandit’s predicted support and resistance levels before moving further positive. Nifty would see strong resistance at 7450-7500-7520 levels whereas support would be seen at 7340-7300-7240 levels. Traders can go long near support levels and short near resistance levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (7416) The support for the Nifty is at 7340-7300-7240 and the resistance to the up move is at 7450-7500-7520 levels.
BSE Sensex: (24859) The support for the Sensex is at 24600-24450-24270 and the resistance to the up move is at 25000-25500 levels.
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