Last Trading Session: Exactly, as predicted by EquityPandit, Indian Stock Market opened flat for the day. As EquityPandit told that some big movement can’t be ruled out today and traders should go long with 8320 as stoploss and exactly same happened. Nifty saw some downside but retreated from 8349 levels and moved sharply positive. Nifty, BankNifty and Sensex made record highs yesterday and traders who followed EquityPandit’s advice might have earned huge profits for the day. BankNifty closed just below EquityPandit’s predicted resistance levels of 17660. Sensex also saw strong resistance right below EquityPandit’s predicted resistance levels of 28240 and lows right on EquityPandit’s predicted support levels of 27920 like a dot. Finally, Indian Stock market closed positive for the day.
Today: Indian Stock Market to open flat with positive bias. Analysis would still remain same. Nifty, BankNifty and Sensex would continue to make record highs, cyclically. Indian Stock Market is awaiting a correction from long time to stablize the economic system and that is the biggest threat among the investors and traders. Traders should trade in small quantity and investors should start booking profits in part. Until Nifty doesn’t see some correction, it can’t be considered as long term trend. Every market requires some correction after a sharp positive movement to get the trend stable and then continue. But for now, traders should still consider going long until Nifty holds 8400-8350 levels by closing. FIIs were net buyers of Rs.656.37 crores whereas DIIs were net sellers of Rs.247.86 crores in Indian Stock Market on Monday. Nifty would see strong support at 8400-8350-8320 levels whereas strong resistance would be seen at 8450-8500 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8431) The support for the Nifty is at 8400-8350-8320 and the resistance to the up move is at 8450-8500 levels.
NSE BankNifty: (17640) The support for the BankNifty is at 17470-17380-17200 and the resistance to the up move is at 17740-17840-18000 levels.
BSE Sensex: (28178) The support for the Sensex is at 28000-27920-27800 and the resistance to the up move is at 28240-28370-28500 levels.
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