Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat. EquityPandit predicted that Indian Stock Market would still consolidate in rangebound region with positive bias and exactly same happened. Nifty consolidated on January 01 with very low volumes. Finally, Indian Stock Market closed flat for the day.
Today: Indian Stock Market to open flat. Technically, now Nifty is looking for fresh direction and we can see sharp breakout or breakdown in either side. Traders should wait for Market to see fresh direction and then enter into the trade. FIIs were net buyers of of Rs.18.2 crores whereas DIIs were net sellers of Rs.19.56 crores due to holiday mood on Thursday. Nifty would see strong support at 8200-8150-8090 levels whereas strong resistance would be seen at 8365-8400-8430 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8284) The support for the Nifty is at 8200-8150-8090 and the resistance to the up move is at 8365-8400-8430 levels.
NSE BankNifty: (18750) The support for the BankNifty is at 18420-18320-18100 and the resistance to the up move is at 18800-18880-19080 levels.
BSE Sensex: (27508) The support for the Sensex is at 27340-27200-27088 and the resistance to the up move is at 27600-27780 levels.
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