Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened flat with 2 point negative for Nifty. Nifty saw further profit booking while initial hours of trading session and saw lows exactly near EquityPandit’s predicted support levels of 7700 levels. Nifty rebounded from the day lows and move up very sharply as EquityPandit suggested traders to go long at every dip until Nifty holds 7650 levels. Nifty saw highs right on EquityPandit’s predicted resistance levels of 7800 like a dot. Finally, Nifty closed near intraday highs just below EquityPandit’s predicted resistance levels of 7800 levels.
Today: Indian Stock Market to open flat for the day. Today is F&O Expiry and hence huge volatility would be seen. Further short covering can be seen and Nifty may breach levels of 7840, if quarterly results of few majors, which are going to disclosed today, are favorable. Interestingly, FIIs have been net sellers of Rs.381.66 crores in Indian Stock Market on Wednesday. Indian Stock Market would see Strong support at 7750-7700-7650 levels for Nifty whereas resistance would be seen at 7800-7860-7900 levels. Traders should go long until Nifty holds 7650 levels by closing below which Nifty would see a sharp negative trend. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Important Q1 Results to be Declared today: Aban Offshore, Bajaj Elect, BASF India, Bharat Elect, Castrol India, DLF, Eclerx Serv, HCL Tech, HDIL, Hindustan Const, ICICI Bank, IPCA Lab, Jyoti, Maruti Suzuki, NTPC, PANTALOONS, PVR, Redington India, Religare Enter, Shoppers Stop, Syndicate Bank, Tatia Global, Tech Mahindra, Wheels India, WPIL.
NSE Nifty: (7791) The support for the Nifty is at 7750-7700-7650 and the resistance to the up move is at 7800-7860-7900 levels.
BSE Sensex: (26087) The support for the Sensex is at 25850-25750-25550 and the resistance to the up move is at 26200-26380-26520 levels.
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