Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened flat. RBI Policy cut SLR Rates by 50 bps and HTM rates by 50 bps, which is a marginal rate cut and would not effect much in near term and hence market saw strong downfall but since EquityPandit predicted that even a marginal rate cut given would act as a surprise for the street and would force market to see a sharp positive movement and same happened. Market rebounded from day lows and moved up very sharply and made high exactly at EquityPandit’s predicted resistance levels of 7750 like a dot. Nifty finally closed near day highs just below EquityPandit’s predicted resistance levels of 7750.
Today: Indian Stock Market to open 10-30 points negative on worries of tensions between Russia and Ukraine can escalate into military conflicts. Indian Stock Markets are strong but the global worries may take it negative. FIIs have been net buyers of Rs.52.85 crores in Indian Stock Market on Tuesday. Indian Stock Market would see Strong support at 7638-7590-7550 levels for Nifty whereas resistance would be seen at 7750-7800-7840 levels. Traders should wait for first market correction during initial hours and then go long until Nifty holds 7638 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: Adani Ports, ADANI POWER, Aditya Birla Chem, Apollo Tyres, Gati, Glaxosmithkl Cons, Gujarat Gas, Jindal Steel, Maharashtra Seam, Piramal Ent, Shasun Pharma, Tata Teleservices, Tide Water, Trident Ltd.
NSE Nifty: (7747) The support for the Nifty is at 7638-7590-7550 and the resistance to the up move is at 7750-7800-7840 levels.
BSE Sensex: (25908) The support for the Sensex is at 25550-25450-25200 and the resistance to the up move is at 26000-26300 levels.
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