Last Trading Session: Exactly as predicted by EquityPandit, Nifty opened flat for the day. Nifty remained rangebound with bankNifty leading the pack as predicted by EquityPandit and saw strong support at EquityPandit’s predicted support levels of 8500 for Nifty. BankNifty saw new record highs, exactly as per EquityPandit’s predictions. BankNifty saw highs just below EquityPandit’s predicted resistance levels of 18740. Finally, Indian Stock Market closed flat with positive bias 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 pack. We can see some profit booking (negative movements) in days to come. FIIs were net buyers of Rs.391.07 crores whereas DIIs were net sellers of Rs.157.23 crores on Wednesday. Nifty would see strong support at 8500-8430-8400 levels whereas strong resistance would be seen at 8560-8620-8665 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 8560-8620-8665 levels.
NSE BankNifty: (18646) The support for the BankNifty is at 18500-18340-18200 and the resistance to the up move is at 18740-18880-19000 levels.
BSE Sensex: (28443) The support for the Sensex is at 28300-28230-28120 and the resistance to the up move is at 28580-28720-28840 levels.
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