Last Trading Session: Indian Stock Market opened positive with 20 points for Nifty. Nifty remained rangebound as predicted by EquityPandit. EquityPandit predicted that BankNifty would sead the market and same happened. BankNifty moved sharply positive and saw record highs as predicted by EquityPandit. BankNifty saw highs right on EquityPandit’s predicted resistance levels of 18880 levels. Finally, Indian Stock Market saw some profit booking as per EquityPandit’s predictions and closed negative for the day.
Today: Indian Stock Market to open flat with positive bias. Analysis would still remain same. Indian Stock Market would see sideways movement in a rangebound region. Trend is still positive with BankNifty leading the market. We can see some profit booking (negative movements) in days to come. But weakness is not seen as of now in Indian Stock Market and traders should trade with the market flow which is positive. Unfortunately, FIIs were net sellers of Rs.109.45 crores whereas DIIs were net buyers of Rs.166.05 crores on Friday. Nifty would see strong support at 8500-8430-8400 levels whereas strong resistance would be seen at 8590-8630-8665 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8538) The support for the Nifty is at 8500-8430-8400 and the resistance to the up move is at 8590-8630-8665 levels.
NSE BankNifty: (18757) The support for the BankNifty is at 18560-18500-18340 and the resistance to the up move is at 18800-18880-19000 levels.
BSE Sensex: (28458) The support for the Sensex is at 28400-28300-28230 and the resistance to the up move is at 28580-28720-28840 levels.
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