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Last Trading Session: Indian Stock Market opened flat with positive bias. Nifty sustained EquityPandit’s predicted support levels of 7480 and as predicted, it moved sharply positive. Nifty saw highs exactly near EquityPandit’s predicted resistance levels of 7605 levels. Finally, Nifty managed to close positive for the day. Sensex also saw highs exactly near EquityPandit’s predicted resistance levels of 25430.
Today: Indian Stock Market to open flat on Iraq worries. Indian Stock Market would still remain rangebound and breakout would only be seen only if Nifty breaches levels of 7680 levels. Technically 7480 level is a make or break level for Nifty by closing. If Nifty closes below 7480 levels then the sharp downtrend would be seen in days to come and Nifty could even test levels of 7250 in that case. Technically, Indian Stock Market is still in consolidation phase in a rangebound region of 7450-7700 for Nifty. Breaching any of these levels by volumes would force Nifty the move sharply in that direction. 7500-7480-7450 would act as strong support for Nifty. Nifty would see strong resistance at 7605-7680-7720 levels for Nifty. Traders should buy near EquityPandit’s predicted support levels and should sell near EquityPandit’s predicted resistance levels in this market. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (7580) The support for the Nifty is at 7500-7480-7450 and the resistance to the up move is at 7605-7680-7720 levels.
BSE Sensex: (25369) The support for the Sensex is at 25070-25000-24840 and the resistance to the up move is at 25430-25650-25720 levels.
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