Last Trading Session: Exactly as per EquityPandit’s predictions, Nifty opened flat positive bias. Nifty saw some profit booking but saw strong short covering from day lows exactly as predicted by EquityPandit. Nifty saw highs just below EquityPandit’s predicted resistance levels of 8520 levels. Sensex also saw huge volatility between EquityPandit’s predicted support and resistance levels. BankNifty also saw lows right on EquityPandit’s predicted support levels of 17890. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market to open gap positive with 20-50 points for Nifty in new series and on a sharp fall of Crude oil. Today, Indian Stock Market may see record highs again. We can see sharp positive movements in BankNifty and Oil Marketing companies like HPCL, BPCL, etc. Reliance and Cairn India would see some weakening pressure. Favourably, We have seen good buying both among FIIs and DIIs on Thursday. FIIs were net buyers of Rs.389.73 crores and DIIs were net buyers of Rs.336.85 crores on Thursday, which is an another good reason to go long today. Nifty would see strong support at 8450-8420-8400 levels whereas strong resistance would be seen at 8520-8550-8617 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8494) The support for the Nifty is at 8450-8420-8400 and the resistance to the up move is at 8520-8550-8617 levels.
NSE BankNifty: (18022) The support for the BankNifty is at 17920-17890-17740 and the resistance to the up move is at 18130-18260-18350 levels.
BSE Sensex: (28439) The support for the Sensex is at 28300-28230-28120 and the resistance to the up move is at 28540-28660-28720 levels.
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