Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened flat with 1 point positive for Nifty on Friday. Nifty, Sensex and BankNifty moved positive but remained rangebound between EquityPandit’s predicted resistance and support levels. FIIs were still a net buyers of Rs.182.8 crores whereas DIIs were net sellers of Rs.208.44 crores in Indian Stock Market on Friday. Finally, Nifty closed positive for the day.
Today: Indian Stock Market to open negative. Stocks on Monday will react to tepid IIP growth and lower retail inflation figures released after markets closed on Friday. Inflation data based on wholesale price index (WPI) for August is expected to be released on Monday afternoon. Global markets will track US Federal Reserve’s two-day meeting ending on Wednesday. Still Nifty is in correction mode and Some further profit booking can’t be ruled out but as said earlier, every dip is an strong opportunity to enter into the market and go long. Foreign funds worth Rs.17000 crores were pumped into Indian Equities since start of this month. Overall, Indian Stock Market is very healthy and looks strong for this week but some tensions of US-Syria, Iraq crises can be a risk to further positive movement in Indian Stock Market. Indian Stock Market would see Strong support at 8050-8020-8000 levels for Nifty whereas resistance would be seen at 8135-8180-8205 levels. Overall trend for Nifty is still positive until Nifty holds 8050 levels by closing. Traders should go long at EquityPandit’s predicted support levels and short at EquityPandit’s predicted resistance levels with small stoplosses. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8106) The support for the Nifty is at 8050-8020-8000 and the resistance to the up move is at 8135-8180-8205 levels.
NSE BankNifty: (16254) The support for the BankNifty is at 16100-16050-15900 and the resistance to the up move is at 16300-16380-16500 levels.
BSE Sensex: (27061) The support for the Sensex is at 26900-26800-26680 and the resistance to the up move is at 27150-27252-27380 levels.
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