Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened negative. RBI Policy was a non-event as no rate changes have been seen. Nifty saw lows right at EquityPandit’s predicted support levels of 8500 levels for Nifty. Finally, Nifty closed negative for the day.
Today: Indian Stock Market to open flat. 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.106.82 crores whereas DIIs were net sellers of Rs.40.42 crores on Tuesday. Nifty would see strong support at 8500-8430-8400 levels whereas strong resistance would be seen at 8620-8665-8750 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8525) The support for the Nifty is at 8500-8430-8400 and the resistance to the up move is at 8620-8665-8750 levels.
NSE BankNifty: (18556) The support for the BankNifty is at 18300-18200-18120 and the resistance to the up move is at 18680-18740-18880 levels.
BSE Sensex: (28444) 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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