Last Trading Session: Exactly as per EquityPandit’s predictions, Nifty opened flat with just 0.65 points positive. Nifty saw new record highs on Tuesday exactly as per EquityPandit’s predictions. Nifty was not able to sustain the EquityPandit’s levels of 8490 and hence fell down sharply. Traders, who followed EquityPandit advice might have avoided any losses in the market. Sensex saw lows right near EquityPandit’s predicted support levels of 28230. Nifty and BankNifty closed just above EquityPandit’s support levels of 8450 and 18000 respectively. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market to open flat with negative bias. Nifty has seen correction in last day and we could further see some more correction in days to come due to overstretched market conditions. We are into F&O Expiry week and hence huge volatility would be seen. Traders can consider levels of 8420-8350 as a pivot points for Nifty. Nifty has still not entered into the negative zone and hence some shortcovering can be seen anytime. Favourably, FIIs were net buyers of Rs.1168.94 crores whereas DIIs were net sellers of Rs.732.12 crores in Indian Stock Market on Monday. Nifty would see strong support at 8420-8400-8350 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: (8463) The support for the Nifty is at 8420-8400-8350 and the resistance to the up move is at 8520-8550-8617 levels.
NSE BankNifty: (18037) The support for the BankNifty is at 17990-17920-17740 and the resistance to the up move is at 18260-18350-18520 levels.
BSE Sensex: (28338) The support for the Sensex is at 28230-28120-28000 and the resistance to the up move is at 28540-28660-28720 levels.
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