Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive with 50 points for Nifty. EquityPandit predicted that technically, we would see some strong positive movements in the market and traders should trade long until Nifty holds 8150 levels and exactly same happened. Nifty saw strong resistance at EquityPandit’s predicted resistance levels of 8300 levels like a dot and closed just below those levels. Sensex also saw highs just at EquityPandit’s predicted resistance levels of 27500 like a dot. Sensex saw day lows just above EquityPandit’s predicted support levels of 27100. BankNifty also saw highs at EquityPandit’s predicted resistance levels of 18880 and lows just at EquityPandit’s predicted support levels of 18480 like a dot. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market to open negative with 20-50 points for Nifty. Technically, Indian Stock Market is still in positive zone and hence traders should trade long until Nifty holds 8150 levels. Some profit booking can’t be ruled out at this point of time. CPI that is going to be disclosed today, WPI on Wednesday and IIP data that is going to be disclosed this week would decide the further market direction. EquityPandit expects increase in CPI and WPI inflation numbers and hence market seeing some further profit booking. FIIs were net sellers of of Rs.297.99 crores whereas DIIs were net buyers of Rs.299.53 crores on Friday. Nifty would see strong support at 8150-8065-7960 levels whereas strong resistance would be seen at 8305-8335-8400 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8285) The support for the Nifty is at 8197-8150-8065 and the resistance to the up move is at 8300-8320-8400 levels.
NSE BankNifty: (18637) The support for the BankNifty is at 18480-18300-18200 and the resistance to the up move is at 18880-19120-19200 levels.
BSE Sensex: (27458) The support for the Sensex is at 27100-26900 and the resistance to the up move is at 27510-27640-27700 levels.
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