Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat. Nifty remained rangebound as predicted by EquityPandit. Nifty saw strong resistance at EquityPandit’s predicted resistance levels of 8430 and fell down sharply. BankNifty closed right above EquityPandit’s predicted support levels of 19000. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market to open gap negative with 30-70 points for Nifty and 100-250 points for Sensex. Now crude prices are the biggest worry for the global market. Crude price fell below $50 yesterday and hence today, we can see some strong downfall in Indian Stock Market. Today, the trade is on negative side for Indian Stock Market and traders should trade negative for the day. BankNifty if closed below 18700 spot levels and 18820 for future levels, then it would enter into negative trend and we can see sharp fall after those levels are breached on the closing basis. All eyes are now set on Infosys results on Friday. FIIs were net buyers of of Rs.472 crores whereas DIIs were net sellers of Rs.575.74 crores on Monday. Nifty would see strong support at 8290-8250-8200 levels whereas strong resistance would be seen at 8430-8450-8505 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8378) The support for the Nifty is at 8290-8250-8200 and the resistance to the up move is at 8430-8450-8505 levels.
NSE BankNifty: (19017) The support for the BankNifty is at 18920-18750-18630 and the resistance to the up move is at 19120-19340-19500 levels.
BSE Sensex: (27842) The support for the Sensex is at 27740-27600-27520 and the resistance to the up move is at 28028-28130-28300 levels.
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