Last Trading Session: Indian Stock Market opened flat with positive bias. Nifty moved positive as per EquityPandit’s predictions. Nifty saw new highs on Monday. Nifty saw sharp profit booking (negative movements) exactly as per EquityPandit’s predictions after SC asked to de-allocate all coal blocks. Finally, metal sector crashed on this news and forced market to move down sharply from day’s highs. Nifty closed flat with negative bias for the day.
Today: Indian Stock Market to open flat for the day. Now, since we are near F&O Expiry day and a short trading week, huge intraday volatility would be seen. SC news on deallocating the coal blocks can affect the market direction but overall Nifty is positive until it holds 7840 levels for Nifty. FIIs were net buyers of Rs.127.33 crores whereas DIIs were net sellers of Rs.45.71 crores in Indian Stock Market on Monday. Indian Stock Market would see Strong support at 7840-7780-7740 levels for Nifty whereas resistance would be seen at 7930-7965-8000 levels. Traders can go long until Nifty holds 7840 levels by closing. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (7906) The support for the Nifty is at 7840-7780-7740 and the resistance to the up move is at 7930-7965-8000 levels.
NSE BankNifty: (15669) The support for the BankNifty is at 15600-15450 and the resistance to the up move is at 15900-16000 levels.
BSE Sensex: (26437) The support for the Sensex is at 26380-26270-26200 and the resistance to the up move is at 26550-26770 levels.
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