Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat and moved positive but it was just a short-covering as expected. Indian Stock Market fell sharply negative but saw lows right above EquityPandit’s predicted support levels of 7950 for Nifty. Nifty again recovered from day lows and managed to close above 8000 levels, which is a positive sign. BankNifty saw strong resistance at EquityPandit’s predicted resistance levels of 18082 and lows right at EquityPandit’s predicted support levels of 17500 like a dot. Finally, Indian Stock Market closed marginally negative whereas BankNifty closed marginally positive for the day.
Today: Indian Stock Market to gap positive with 50+ points for Nifty. Now some signals of positive movement is expected in the market. Indian Stock Market would see a strong bounce back with Banking sector leading the market. Closing above 8000 mark has given some strength in the trend. Traders can trade long until Nifty holds levels of 7950. FIIs were net sellers of of Rs.1636.36 crores whereas DIIs were net buyers of Rs.1423.83 crores on Wednesday. Nifty would see strong support at 8000-7950-7880 levels whereas strong resistance would be seen at 8120-8250-8315 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8030) The support for the Nifty is at 8000-7950-7880 and the resistance to the up move is at 8120-8250-8315 levels.
NSE BankNifty: (17866) The support for the BankNifty is at 17750-17600-17500 and the resistance to the up move is at 18000-18082-18300 levels.
BSE Sensex: (26710) The support for the Sensex is at 26700-26600-26460 and the resistance to the up move is at 26920-27000-27200 levels.
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