Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. EquityPandit predicted that nifty may see some short covering but overall trend is still positive where strong support would be seen at 8530 levels for Nifty and 18380 levels for BankNifty and exactly same happened. Nifty fell sharply negative and saw closing right near EquityPandit’s predicted support levels of 8530. BankNifty also saw lows right at EquityPandit’s predicted support levels of 18380 like a dot. Finally, Indian Stock Market closed gap negative for the day.
Today: Now, today is the D-Day. Overall market is still negative. Delhi poll results counting would start at 8AM today. Market has factored-in Arvind Kejriwal win. If that happens then some further correction would be seen in the market and power sector operating in Delhi would be majorly affected and we can see a sharp fall in the sector. But If BJP wins in today’s poll results than it would be surprise in the market and we would see sharp positive movement breaking all the resistance levels. Traders are suggested to trade accordingly once the polls outcome is visible. FIIs were net sellers of Rs.660.30 crores whereas DIIs were net buyers of Rs.469.55 crores on Monday. Nifty would see strong support at 8450-8380-8325 levels whereas strong resistance would be seen at 8650-8730-8800 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: ABB, ABIRLANUVO, BPL, CADILAHC, ESSAROIL, HEXAWARE, JISLJALEQS, JPASSOCIAT, MOTHERSUMI, NATIONALUM, SRF, SUVEN, TGBHOTELS, UNITEDBNK, ZICOM.
NSE Nifty: (8526) The support for the Nifty is at 8450-8380-8325 and the resistance to the up move is at 8650-8730-8800 levels.
NSE BankNifty: (18404) The support for BankNifty is at 18210-18100-17770-17500 and the resistance to the up move is at 18670-18880-19120 levels.
BSE Sensex: (28227) The support for the Sensex is at 27940-27700-27500 and the resistance to the up move is at 28570-28670-28920-29140 levels.
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