Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened gap negative with 50+ points for Nifty. Nifty breached the support of 7700-7650 levels exactly as per EquityPandit’s predictions. Traders who followed EquityPandit’s suggestions to go short might have earned huge profits on Friday. Finally Nifty closed gap negative with 119 points just above 7600 levels.
Today: Indian Stock Market to open positive with 20-50 points for Nifty. Nifty may see some short covering after a long negative movement. FIIs have been net sellers of Rs.1072.96 crores in Indian Stock Market on Friday, which is a strong negative news for the Indian markets but DIIs were surprisingly net buyers of Rs.1074 crores. All eyes are now on RBI credit Policy, which is going to be disclosed on 5th August, 2014. RBI Credit Policy would now be the major trigger for Indian Stock Market and a surprise of Rate Cut can fuel the sharp positive movement in Indian Stock Market. Indian Stock Market would see Strong support at 7590-7550-7480 levels for Nifty whereas resistance would be seen at 7668-7710-7750 levels. 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: Aptech, Atul Auto, Indraprastha Gas, Kalpataru Power, Marico, Oriental Bank, Petronet LNG, Power Grid Corp, Punj Lloyd, Tata Comm.
NSE Nifty: (7603) The support for the Nifty is at 7590-7550-7480 and the resistance to the up move is at 7668-7710-7750 levels.
BSE Sensex: (25481) The support for the Sensex is at 25450-25200-25000 and the resistance to the up move is at 25870-26000-26200 levels.
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