Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat. Nifty saw support near EquityPandit’s predicted support levels of 8050 levels. Equitypandit predicted that Nifty can see some short covering but every positive movement would be an opportunity to short in the market. Traders who followed EquityPandit’s suggestions to go short in the market might have earned huge profits for the day. Sensex also saw support at EquityPandit’s predicted support levels of 26730. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market to open gap positive with 30-60 points for Nifty as oil worries eases. Technically, now we can see some short covering (positive movement) in the market. 8065 would be a pivot point for Nifty, which if breached on the negative side, we would see a sharp downfall in that case and levels of 7980 would be seen in that case in next couple of days. For today, traders can go long until Nifty holds 8065 levels and book profits near EquityPandit’s resistance levels. All eyes are now set on Infosys results on Friday. FIIs were net sellers of of Rs.1073.18 crores whereas DIIs were net buyers of Rs.601.4 crores on Wednesday. Nifty would see strong support at 8060-7960-7800 levels whereas strong resistance would be seen at 8200-8250-8300 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8102) The support for the Nifty is at 8060-7960-7800 and the resistance to the up move is at 8200-8250-8300 levels.
NSE BankNifty: (18304) The support for the BankNifty is at 18100-17770-17500 and the resistance to the up move is at 18570-18700-18880 levels.
BSE Sensex: (26909) The support for the Sensex is at 26730-26460-25830 and the resistance to the up move is at 27320-27500 levels.
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