Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that market would see some sharp short covering rally and exactly same happened. Nifty moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 8860 like a dot. BankNifty also closed right at EquityPandit’s predicted resistance levels of 19075 like a dot. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open gap positive on Budget Day. Indian Stock Market has entered into positive zone today specially, BankNifty. Market looks to open positive and then correct before the budget session. Since the market has entered into positive zone hence there is more probability that we would have good budget today and market would continue to make new record highs. Gold Duty cut is also expected and Gold is expected to fell down sharply and hence Titan may rise sharply. Infrastructure and Real Estate sector would see sharp rise today on expectations form budget. Anyhow, if Budget would not be as per the expectation then we could see sharp selling in the market breaching all the support levels. FIIs were net buyers of Rs.1957.10 crores whereas DIIs were net sellers of Rs.491.93 crores on Friday. Nifty would see strong support at 8650-8600-8520 levels whereas strong resistance would be seen at 9000-9050-9135 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8845) The support for the Nifty is 8650-8600-8520 and the resistance to the up move is at 9000-9050-9135 levels.
NSE BankNifty: (19075) The support for BankNifty is at 18650-18340-18220 and the resistance to the up move is at 19410-19808-19975 levels.
BSE Sensex: (29220) The support for the Sensex is at 28820-28645-28340 and the resistance to the up move is at 29480-29850-30000 levels.
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