Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. EquityPandit predicted that some positive movement would be seen in market but any positive movement would just be temporary in nature and traders should go short in the market as overall market trend would be negative and exactly same happened. Market moved positive but has seen sharp fall from higher levels closing just above EquityPandit’s predicted support levels of 8220 like a dot. Traders, who followed EquityPandit’s suggestions to go short might have earned whooping profits for the day. Sensex also closed right on EquityPandit’s predicted support levels of 27350 like a dot. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market to open gap negative with 20-50 points for Nifty due to sharply falling oil prices and poor IIP Data. Overall, Indian Stock Market is still in negative trend and Any positive movement would still be temporary in nature and would be just a short-covering. Further correction would be seen in the market in days to come. Traders should wait for some positive movements and then go short in the market. Nifty can see levels of 8175-8100 for Nifty can be seen. FIIs were net sellers of of Rs.864.96 crores whereas DIIs were net buyers of Rs.323.41 crores on Friday. Nifty would see strong support at 8197-8175-8100 levels whereas strong resistance would be seen at 8315-8350-8400 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8224) The support for the Nifty is at 8197-8175-8100 and the resistance to the up move is at 8315-8350-8400 levels.
NSE BankNifty: (18300) The support for the BankNifty is at 18180-18000-17920 and the resistance to the up move is at 18500-18590-18660 levels.
BSE Sensex: (27350) The support for the Sensex is at 27220-27088-26970 and the resistance to the up move is at 27590-27000-27800 levels.
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