Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat. Nifty moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 8840 like a dot. Nifty was not able to sustain the upmove and fell down sharply exactly as per EquityPandit’s predictions and saw lows right at EquityPandit’s predicted support levels of 8680 levels like a dot. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market to open flat. Technically, analysis would still remain same. Market is still in negative trend and 8625 would act as strong support for Nifty. Nifty would remain rangebound with negative bias. We can see some temporary short covering in the market but overall trend is still negative. FIIs were net sellers of Rs.27.43 crores whereas DIIs were net buyers of Rs.325.61 crores on Thursday. Nifty would see strong support at 8680-8625 levels whereas strong resistance would be seen at 8800-8840-8930 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: APOLLOTYRE, DENABANK, GAIL, IDBI, JETAIRWAYS, NMDC, SUNTV, TATACHEM, TATASTEEL, TVTODAY.
NSE Nifty: (8711) The support for the Nifty is at 8680-8625 and the resistance to the up move is at 8800-8840-8930 levels.
NSE BankNifty: (19052) The support for BankNifty is at 18900-19740 and the resistance to the up move is at 19420-19540-19660 levels.
BSE Sensex: (28850) The support for the Sensex is at 28740-28500 and the resistance to the up move is at 29140-29250-29410 levels.
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