Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened gap positive with 50+ points for Nifty. Nifty saw strong short covering exactly as per EquityPandit’s predictions. Nifty remained in small range for almost whole trading session and then recovered in last 1 hour. Nifty, Sensex and BankNifty remained rangebound between EquityPandit’s predicted support and resistance levels. Finally Nifty closed gap positive for the day.
Today: Indian Stock Market to open negative with 10-30 points on poor Inflation and IIP Data. Today, Nifty may see some profit booking. The only driving force for the market is expectation from Prime Minster’s speech for declaration of some new projects and reforms on 15th August. FIIs were net buyers of Rs.370.83 crores in Indian Stock Market whereas DIIs were net sellers of Rs.39.78 crores on Tuesday. Indian Stock Market would see Strong support at 7638-7588-7565 levels for Nifty whereas resistance would be seen at 7735-7753-7800 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: Alembic, BF Utilities, BGR Energy, BBTC, BPL, Dishman Pharma, Financial Tech, Gammon India, GMR Infra, GVK Power, Hindustan Copp, IL&FS TRANS, Jindal Poly, Kohinoor Foods, MCX, Max India, Mercator, MMTC, National Alum, NCC, ONGC, Patel Engr, Siemens, Tata Steel, Unitech, Voltas, Whirlpool.
NSE Nifty: (7727) The support for the Nifty is at 7638-7588-7565 and the resistance to the up move is at 7735-7753-7800 levels.
NSE BankNifty: (15057) The support for the BankNifty is at 15002-14848-14658 and the resistance to the up move is at 15156-15375-15655 levels.
BSE Sensex: (25881) The support for the Sensex is at 25765-25600-25438 and the resistance to the up move is at 25997-26294 levels.
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