Last Trading Session: Indian Stock Market open positive in last trading session but was unable to breach the EquityPandit’s predicted resistance of 8000 for Nifty and fell down sharply from that levels. BankNifty also saw highs exactly near EquityPandit’s predicted resistance levels of 15625 levels but fell down and closed almost 134 points negative for the day. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market to open negative with 10-40 points for Nifty and 30-100 points for Sensex. RBI Policy to be disclosed today at 11 AM, which would decide the next market direction. If some kind of rate cut is seen than it would boost the sentiments and sharp positive movements would be seen. But in case of rates remaining unchanged, market would consolidate in a rangebound region and overall direction of the market would be negative. 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 with small stoplosses at EquityPandit’s predicted resistance levels on spot basis. FIIs were net sellers of Rs.1133.64 crores whereas DIIs were net buyers of Rs.1335.33 crores in Indian Stock Market on Monday. Indian Stock Market would see Strong support at 7920-7840-7825 levels for Nifty whereas resistance would be seen at 8000-8020-8064 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (7959) The support for the Nifty is at 7920-7840-7825 and the resistance to the up move is at 8000-8020-8064 levels.
NSE BankNifty: (15474) The support for the BankNifty is at 15200-15096-14970 and the resistance to the up move is at 15640-15740-15880 levels.
BSE Sensex: (26597) The support for the Sensex is at 26520-26340-26220 and the resistance to the up move is at 26720-26820-27000 levels.
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