Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with 10 points positive for Nifty. Nifty saw some profit booking but moved sharply positive from EquityPandit’s predicted support levels. Sensex also remained rangebound between EquityPandit’s predicted support and resistance levels of 26700 and 27000. BankNifty saw new record highs as predicted by EquityPandit and closed right on EquityPandit’s predicted resistance levels of 16660. Nifty saw strong resistance near EquityPandit’s predicted resistance levels of 8050 but managed to close positive for the day.
Today: Indian Stock Market to open positive 20-45 points for Nifty and 40-100 points for Sensex. Now, Government is supposed to disclose list of names of people who have blackmoney abraod by today, so companies, who would come in that radar would see sharp downfall, if disclosed in public. Huge volatility would be seen a day ahead of F&O Expiry. Overall, Indian Stock Market is heading towards new highs where Banking sector would lead the index. Now traders should trade positive until Nifty holds 7985 level as it would act as important support level for Nifty and one can go short, if those levels are breached. Nifty is supposed to see new highs in days to come. But some gaps that were generated in last few trading session are the risk for further upmove and their are strong chances for Nifty to fill those gaps before further positive movement. FIIs were net sellers of Rs.108 crores whereas DIIs were net sellers of Rs.99.66 crores in Indian Stock Market on Tuesday. Nifty would see strong support at 7985-7875 levels wheraes strong resistance would be seen at 8064-8100-8132 levels. BankNifty would continue making new record highs and has more momentum to go positive. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Important Results to be Declosed Today: CONCOR, DISHTV, DRREDDY, EMAMILTD, GATI, GRASIM, MPHASIS, ORIENTBANK, RAYMOND, SSLT, TATAELXSI, TECHM, VIPIND.
NSE Nifty: (8028) The support for the Nifty is at 7985-7875 and the resistance to the up move is at 8064-8100-8132 levels.
NSE BankNifty: (16667) The support for the BankNifty is at 16600-16500-16320 and the resistance to the up move is at 16740-16880-17000 levels.
BSE Sensex: (26880) The support for the Sensex is at 26700-26500 and the resistance to the up move is at 27000-27200 levels.
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