Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with negative bias. EquityPandit predicted that Nifty would see further negative movement with 8625 as strong support levels and exactly same happened. Nifty fell down sharply but manage to stay above EquityPandit’s predicted support levels of 8625 levels. BankNifty also saw a sharp fall and saw lows right at EquityPandit’s predicted support levels of 18740 like a dot. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market to open gap negative. Technically, analysis would still remain same. Market is still in negative trend and 8625-8574 would act as strong supports for Nifty. Delhi polls results that would be disclosed in next 1 day would affect Indian Stock Market. 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.96.45 crores whereas DIIs were net buyers of Rs.115.49 crores on Friday. Nifty would see strong support at 8625-8574-8530 levels whereas strong resistance would be seen at 8730-8800-8840 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: CORPBANK, DLF, HERCULES, JKTYRE, JPPOWER, JYOTISTRUC, L&T, VOLTAMP.
NSE Nifty: (8661) The support for the Nifty is at 8625-8574-8530 and the resistance to the up move is at 8730-8800-8840 levels.
NSE BankNifty: (18787) The support for BankNifty is at 18740-18515-18380 and the resistance to the up move is at 19120-19420-19540 levels.
BSE Sensex: (28718) The support for the Sensex is at 28500-28320 and the resistance to the up move is at 28920-29140-29250 levels.
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