Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for Nifty. Nifty moved positive and saw highs right near EquityPandit’s predicted resistance levels of 8920 levels. Market saw sharp profit booking exactly as per EquityPandit’s predictions and saw lows right at EquityPandit’s predicted support levels of 8790 like a dot. Metal and BankNifty helped market to recover sharply. Sensex saw lows right near EquityPandit’s predicted support levels of 29120. BankNifty also saw lows right near EquityPandit’s predicted support levels of 18890. Finally, Indian Stock Market closed positive for the day but BankNifty closed negative.
Today: Indian Stock Market would open positive. Analysis would still remain same. Market would consolidate in a rangebound region before Budget. Overall Market is still positive and traders should trade long until Nifty holds 8790 levels. Indian Stock Market would see new record highs in next few days. FIIs were net buyers of Rs.1542.7 crores whereas DIIs were net sellers of Rs.195.74 crores on Thursday. Nifty would see strong support at 8790-8730-8650 levels whereas strong resistance would be seen at 8920-9000 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8895) The support for the Nifty is at 8790-8730-8650 and the resistance to the up move is at 8920-9000 levels.
NSE BankNifty: (19188) The support for BankNifty is at 19120-19000-18890 and the resistance to the up move is at 19380-19540-19800 levels.
BSE Sensex: (29462) The support for the Sensex is at 29120-28930-28830 and the resistance to the up move is at 29620-29780 levels.
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