Last Trading Session: Exactly, as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. Nifty, BankNifty and Sensex continued to see record highs today exactly as per EquityPandit’s predictions. Traders, who followed EquityPandit’s advice to go long until Nifty holds 8400 levels, might have earned huge profits for the day. Nifty saw highs right on EquityPandit’s predicted resistance levels of 8450. BankNifty also saw highs on EquityPandit’s predicted resistance levels of 17740 levels. Nifty saw some profit booking but saw lows right above EquityPandit’s predicted support levels of 8400. Finally, Indian Stock Market closed flat for the day.
Today: Indian Stock Market to open flat with positive bias. Analysis would still remain same. Tata Steel and Bharti Airtel are near Breakout levels. 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. Unfavourably, FIIs were net sellers of Rs.101.98 crores, yesterday after a big inflow for last couple of days, which shows that FIIs are also looking for some correction. DIIs were net sellers of Rs.232.42 crores in Indian Stock Market on Tuesday. Nifty would see strong support at 8400-8350-8320 levels whereas strong resistance would be seen at 8450-8465-8500 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8426) The support for the Nifty is at 8400-8350-8320 and the resistance to the up move is at 8450-8465-8500 levels.
NSE BankNifty: (17703) The support for the BankNifty is at 17540-17470-17380 and the resistance to the up move is at 17750-17840-18000 levels.
BSE Sensex: (28163) The support for the Sensex is at 28000-27920-27800 and the resistance to the up move is at 28285-28370-28500 levels.
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