Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. EquityPandit predicted that market would remain rangebound between EquityPandit’s predicted support and resistance levels and exactly same happened. Nifty consolidated between EquityPandits’ predicted resistance and support levels of 8920 and 8790 levels. Sensex also consolidated right between EquityPandit’s predicted support and resistance levels. BankNifty saw lows right at EquityPandit’s predicted support levels of 18890. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open flat. Analysis would still remain same. Market would consolidate in a rangebound region before Budget. Now we are into F&O Expiry week and hence sharp volatility would be seen. It looks like Nifty would wait for budget to breach 9000 levels. Market would open on Budget session on Saturday as requested by Market participant to SEBI. FIIs were net sellers of Rs.89.41 crores whereas DIIs were net buyers of Rs.204.85 crores on Friday. Nifty would see strong support at 8792-8730-8650 levels whereas strong resistance would be seen at 8900-8920-9000 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8834) The support for the Nifty is at 8792-8730-8650 and the resistance to the up move is at 8900-8920-9000 levels.
NSE BankNifty: (19074) The support for BankNifty is at 19000-18890-19770 and the resistance to the up move is at 19380-19540-19800 levels.
BSE Sensex: (29231) The support for the Sensex is at 29120-28930-28830 and the resistance to the up move is at 29480-29620-29780 levels.
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