Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive with 100+ points for Nifty. EquityPandit predicted that we would see sharp positive movement with BankNifty seeing new record highs, so traders should go long in the market and exactly same happened. Market moved sharply positive and BankNifty saw new record highs yesterday exactly as per EquityPandit’s predictions. Indian Stock Market breached all resistance levels with volumes and closed gap positive for the day.
Today: Indian Stock Market to open gap flat with positive bias for the day. India saw 10 month low trade deficit that would give further fuel to the positive movement in the market. Indian Giant like Reliance Industries, Axis Bank and Wipro would disclosed its quarterly results today that would affect the Indian Stock Market direction. Some profit booking can be seen today in the market due to oil price worries. Traders should trade long at every dip as overall market is positive. FIIs were net buyers of Rs.1738.24 crores whereas DIIs were net sellers of Rs.527.27 crores on Thursday. Nifty would see strong support at 8427-8380 levels whereas strong resistance would be seen at 8525-8560-8630 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Important Results to be Disclosed today: AXISBANK, DHFL, INOXLEISUR, NIITLTD, OBEROIRLTY, RELIANCE, WIPRO.
NSE Nifty: (8494) The support for the Nifty is at 8427-8380 and the resistance to the up move is at 8525-8560-8630 levels.
NSE BankNifty: (19236) The support for the BankNifty is at 19075-18920-18750 and the resistance to the up move is at 19520-19740-19880 levels.
BSE Sensex: (28076) The support for the Sensex is at 28000-27920-27700 and the resistance to the up move is at 28290-28540-28820 levels.
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