Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative with more than 50 points for Nifty. EquityPandit suggested traders that overall market trend is still negative and traders should go short in this market and same happened. Nifty achieved EquityPandit target of 8175. Traders, who followed EquityPandit advice might have earned huge profits for the day. Indian Stock Market recovered from day lows to close flat with negative bias. However, BankNifty being the strongest candidate managed to close positive for the day.
Today: Indian Stock Market to open gap negative with 20-60 points for Nifty. 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 8175-8150-8100 in days to come. FIIs were net sellers of of Rs.455.72 crores whereas DIIs were net buyers of Rs.136.02 crores on Monday. Nifty would see strong support at 8175-8150-8100 levels whereas strong resistance would be seen at 8250-8315-8350 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8220) The support for the Nifty is at 8175-8150-8100 and the resistance to the up move is at 8250-8315-8350 levels.
NSE BankNifty: (18373) 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: (27320) The support for the Sensex is at 27220-27088-26970 and the resistance to the up move is at 27400-27590-27700 levels.
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