Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened flat with 2 points negative for Nifty. Nifty moved higher but as suggested by EquityPandit that every positive movement is now an opportunity of short selling as a deep correction is expected and same happened. Indian Stock Market fell sharply negative and saw lows exactly near EquityPandit’s predicted support levels of 7940 for Nifty, 26500 for Sensex and 15600 levels for BankNifty. Finally, Indian Stock Market closed gap negative for the day on coal block deallocation news.
Today: Indian Stock Market to open positive with 10-30 points for Nifty on Stimulus hopes in Europe and China. Today is F&O Expiry and we have a short month ahead full of holidays and hence, huge volatility would be seen. Some short covering (positive movement) would definitely be seen but overall Indian Stock Market is in negative trend and traders should look for short-selling at every positive movement. Nifty is looking for deep correction in next month. FIIs were net sellers of Rs.793.65 crores whereas DIIs were net sellers of Rs.15.29 crores in Indian Stock Market on Wednesday. Indian Stock Market would see Strong support at 8000-7940-7850 levels for Nifty whereas resistance would be seen at 8064-8100-8132 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8002) The support for the Nifty is at 8000-7940-7850 and the resistance to the up move is at 8064-8100-8132 levels.
NSE BankNifty: (15740) The support for the BankNifty is at 15600-15500 and the resistance to the up move is at 16000-16100-16240 levels.
BSE Sensex: (26745) The support for the Sensex is at 26700-26500-26340 and the resistance to the up move is at 26950-27000-27250 levels.
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