Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened gap positive with 37 points for Nifty. Nifty saw some short covering exactly as per EquityPandit’s predictions. Nifty remained in range between EquityPandit’s predicted support and resistance levels of 7590 and 7710. Nifty closed positive led by Banking sector just a day before RBI Credit Policy.
Today: Indian Stock Market to open flat ahead of RBI Credit Policy. Now, all eyes are on RBI Credit Policy, which would be disclosed at 11 AM today. Street is expecting rates to be unchanged but if some surprise rate cut is seen by Mr. Raghuram Rajan, then we can see sharp positive movement in Banking, Infra, Auto and Power sector and it would act as major trigger for next positive movement in Indian Stock Market. If rates would remain unchanged then we may see further choppy markets and Nifty can slowly move down to 7500 levels in days to come. FIIs have been net buyers of Rs.372.56 crores in Indian Stock Market on Monday. Indian Stock Market would see Strong support at 7590-7550-7480 levels for Nifty whereas resistance would be seen at 7710-7750-7800 levels. 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: Bata India, Crompton Greav, Hero MotoCorp, Hindustan Motors, Mahindra Ugine, NHPC, Sintex Inds, Tata Chemicals, Tata Invest.
NSE Nifty: (7684) 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: (25723) 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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