Last Trading Session: Exactly as predicted by EquityPandit, Nifty opened gap negative with 25 points. Nifty remained rangebound between EquityPandit’s predicted support and resistance levels. Nifty closed just above EquityPandit’s predicted support levels of 7840 like a dot. BankNifty also closed just below EquityPandit’s predicted resistance levels of 15350 levels. Oil Marketing companies and Banking sector were positive for today. Finally, Nifty closed negative for the day.
Today: Indian Stock Market to open positive with 15-50 points for Nifty. Indian Stock Market is still in downtrend but since it is over-stretched, a bounce back cannot be ruled out. Overall market would consolidate in a rangebound region. Breaching levels of 7825-7800, would force Nifty to seel levels of 7745 in days to come. FIIs were net sellers of Rs.1440.99 crores whereas DIIs were net buyers of Rs.663.09 crores in Indian Stock Market on Wednesday. Indian Stock Market would see Strong support at 7825-7800-7745 levels for Nifty whereas resistance would be seen at 7925-8000 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (7843) The support for the Nifty is at 7825-7800-7745 and the resistance to the up move is at 7925-8000 levels.
NSE BankNifty: (15344) The support for the BankNifty is at 15096-14970-14800 and the resistance to the up move is at 15350-15560-15740 levels.
BSE Sensex: (26247) The support for the Sensex is at 26000-25850 and the resistance to the up move is at 26380-26570-26700 levels.
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