Last Trading Session: EquityPandit predicted that positive trend is getting stronger and traders can go long at every dip in the market but strong resistance would be seen at 8830 levels for Nifty and exactly same happened. Indian Stock Market opened positive and went sharply positive. Nifty saw highs right near EquityPandit’s predicted resistance levels of 8830. Sensex also saw highs right at EquityPandit’s predicted resistance levels of 29170. BankNifty saw highs right at EquityPandit’s predicted resistance levels of 19440 like a dot. Traders who follwoed EquityPandit advice with support and resistance levels might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open flat with positive bias. Now, Indian Stock Market is in positive trend. Some profit booking can be seen before further positive movement but traders should trade long at every dip in the market until Nifty holds 8650 levels. Metal sector like Tatasteel, etc and Banking sector would see positive movement. FIIs were net buyers of Rs.390.26 crores whereas DIIs were net buyers of Rs.95.82 crores on Friday. Nifty would see strong support at 8720-8650-8593 levels whereas strong resistance would be seen at 8860-8920-9000 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8805) The support for the Nifty is at 8720-8650-8593 and the resistance to the up move is at 8860-8920-9000 levels.
NSE BankNifty: (19370) The support for BankNifty is at 19240-19160-18890 and the resistance to the up move is at 19800-19970 levels.
BSE Sensex: (29095) The support for the Sensex is at 28930-28830-28640 and the resistance to the up move is at 29270-29410-29620 levels.
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