Last Trading Session: Indian Stock Market opened flat with positive bias. Nifty remained rangebound within EquityPandit’s predicted support and resistance levels of 8248 and 8400 levels respectively. Finally, Indian Stock Market saw strong profit booking exactly as per EquityPandit’s predictions and closed negative for the day.
Today: Indian Stock Market to open flat. Technically, Indian Stock Market is looking for fresh direction but is still in positive zone and hence traders should trade long until Nifty holds 8150 levels. Nifty would consolidate in a rangebound region between 8150 on the negative side and 8400 on the positive side. Nifty, if breched levels of 8400 closing levels, then we can see a sharp positive movement in the market else market would again see sharp downfall. FIIs were net buyers of Rs.235.09 crores whereas DIIs were net buyers of Rs.46.06 crores on Tuesday. Nifty would see strong support at 8248-8197-8150 levels whereas strong resistance would be seen at 8360-8400-8430 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8299) The support for the Nifty is at 8248-8197-8150 and the resistance to the up move is at 8360-8400-8430 levels.
NSE BankNifty: (18707) The support for the BankNifty is at 18530-18480-18300 and the resistance to the up move is at 18880-19120-19200 levels.
BSE Sensex: (27426) The support for the Sensex is at 27320-27100-26900 and the resistance to the up move is at 27640-27700-27920 levels.
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