Last Trading Session: Exactly, as predicted by EquityPandit, Indian Stock Market opened flat for the day with 0.80 points positive for Nifty. As EquityPandit predicted that Indian Stock Market would continue to move higher in cyclic fashion and exactly same happened. We saw some profit booking and Nifty saw lows near EquityPandit’s predicted support levels of 8290 levels and Highs near EquityPandit’s predicted resistance levels of 8400 levels. BankNifty also saw lows right on EquityPandit’s predicted support levels of 17200 like a dot and moved higher to see highs right on EquityPandit’s predicted resistance levels of 17425. Finally, Indian Stock Market closed flat for the day.
Today: Indian Stock Market to open flat with 5-20 points positive for Nifty. Analysis would still remain same. Indian Stock Market would consolidate in a rangebound region but continue to move higher in a cyclic fashion. Some temporary profit booking can’t be ruled out at this point of time. BankNifty, if closed below 17090 for spot levels and 17160 levels for futures, then it would enter into negative trend and traders can initiate a short in BankNifty near closing levels. FIIs were net buyers of Rs.355.30 crores whereas DIIs were net sellers of Rs.314.93 crores in Indian Stock Market on Monday. Nifty would see strong support at 8290-8265-8200 levels whereas strong resistance would be seen at 8400-8500 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Important Results to be Disclosed Today: AMARAJABAT, IFCI, PRESTIGE.
NSE Nifty: (8344) The support for the Nifty is at 8290-8265-8200 and the resistance to the up move is at 8400-8500 levels.
NSE BankNifty: (17262) The support for the BankNifty is at 17200-17000-16930 and the resistance to the up move is at 17425-17500-17600 levels.
BSE Sensex: (27874) The support for the Sensex is at 27720-27600-27500 and the resistance to the up move is at 28025-28240 levels.
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