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Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened flat with negative bias. Market remained rangebound for the trading session and Nifty consolidated at those levels. Nifty saw strong support at 7500 levels for Nifty. Finally, Nifty moved sharply in last 45 minutes of the trading session backed by basket buying in Banking and Oil & Gas shares, which forced market to see sharp positive movements. Traders, who followed EquityPandit’s advice to go long at every downtrend and should not short in any case, might have earned huge profits on Tuesday. Nifty saw strong resistance at 7640 levels and finally closed gap positive near intraday high.
Today: Indian Stock Market may open flat. Markets may resume its positive trend. Some profit booking may be seen at EquityPandit’s predicted resistance levels but overall direction would be positive. Technically, 7580-7550-7500 would act as strong support for Nifty. Nifty would see strong resistance at 7680-7720 levels for Nifty. Traders should buy at every dip in the market. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (7632) The support for the Nifty is at 7580-7550-7500 and the resistance to the up move is at 7680-7720 levels.
BSE Sensex: (25521) The support for the Sensex is at 25220-25100-25000 and the resistance to the up move is at 25650-25780 levels.
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