Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with just 0.35 points positive for Nifty. Nifty saw sharp profit booking as predicted by EquityPandit and saw lows right on EquityPandit’s predicted support levels of 8430 like a dot. BankNifty also closed just above EquityPandit’s predicted support levels of 18500. Infosys fell down sharply on promotors selling part of their stake, which took market lower. Finally, Indian Stock Market closed deep negative for the day.
Today: Indian Stock Market to open negative. Now the first correction was seen in the market. There is a good chance that Nifty can breach EquityPandit’s predicted support levels of 8430 in today’s session. BankNifty has entered into the negative trend and we can see some further correction in days to come. Traders, could trade short, once market bounces but Nifty could be traded long above 8500 levels and short below those levels. Huge selling was seen in Infosys by promotors, which was bought by FIIs and DIIs yesterday. FIIs were net buyers of Rs.4984.60 crores whereas DIIs were net buyers of Rs.1030.65 crores on Monday. Nifty would see strong support at 8430-8400-8350 levels whereas strong resistance would be seen at 8500-8550-8590 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8438) The support for the Nifty is at 8430-8400-8350 and the resistance to the up move is at 8500-8550-8590 levels.
NSE BankNifty: (18510) The support for the BankNifty is at 18480-18340-18200 and the resistance to the up move is at 16660-18800-18880 levels.
BSE Sensex: (28119) The support for the Sensex is at 28000-27920-27720 and the resistance to the up move is at 28420-28580 levels.
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