Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened flat with 6 point negative for Nifty. Nifty saw short covering but was not able to breach EquityPandit’s predicted resistance levels of 7800 levels. Nifty saw strong profit booking by the end of the trading session and saw strong support at EquityPandit’s predicted support levels of 7700. Sensex also saw lows exactly at EquityPandit’s predicted support levels of 25850 levels like a dot. Finally, Nifty closed gap negative for the day.
Today: Indian Stock Market to open gap negative for the day due to Argentina Default, hike in US Labor cost and worries over the Ukraine, Iraq and now Israel to pile up on bad Macro economic numbers. Today Nifty is supposed to break support levels of 7700-7650 on the downside and if this happens strong downfall may be seen. FIIs have been net sellers of Rs.1654.85 crores in Indian Stock Market on Thursday, which is a strong negative news for the Indian markets. Indian Stock Market would see Strong support at 7650-7550 levels for Nifty whereas resistance would be seen at 7750-7800-7860 levels. Nifty may see correction now and may see levels of 7500-7400 in days to come before further positive move. Now Nifty would enter into negative region and traders should go short until Nifty breaches levels of 7800 on the positive side. 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: Bajaj Corp, Berger Paints, Bharat Gears, Cummins India, JSW Steel, Karur Vysya Bank, Prestige Estates, TajGVK Hotels, TV Today, Union Bank, United Spirits.
NSE Nifty: (7721) The support for the Nifty is at 7650-7550 and the resistance to the up move is at 7750-7800-7860 levels.
BSE Sensex: (25895) The support for the Sensex is at 25750-25550-25000 and the resistance to the up move is at 26000-26200 levels.
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