Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that 8730 would act as strong support for Nifty and if it breaches than we can see next support at 8650 and exacty same happened. Market fell down sharply and breached its support of 8730 and hence fell down sharply near EquityPandit’s predicted support levels of 8650 for Nifty. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market would open positive. Indian Stock Market is in negative trend but some short covering is expected today. Market would remain under pressure today. Now market would be too volatile on the day ahead of General Budget day. Traders can go for hedging positions as sigle sided positions would be too risky. EquityPandit expects market to remain bearish after budget session hence traders can trade with negative bias. Market would open on Budget session on saturday as requested by Market participant to SEBI. FIIs were net buyers of Rs.2312.15 crores whereas DIIs were net buyers of Rs.340.79 crores on Thursday. Nifty would see strong support at 8650-8600-8520 levels whereas strong resistance would be seen at 8790-8860-8900 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8684) The support for the Nifty is 8650-8600-8520 and the resistance to the up move is at 8790-8860-8900 levels.
NSE BankNifty: (18538) The support for BankNifty is at 18340-18220 and the resistance to the up move is at 18800-19075-19240 levels.
BSE Sensex: (28747) The support for the Sensex is at 28645-28340-28180 and the resistance to the up move is at 29075-29380-29480 levels.
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