Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. As EquityPandit predicted that market would remain rangebound and would see strong supports at 8730 levels for Nifty and exactly same happened. Nifty moved sharply negative and saw lows right above EquityPandit’s predicted support levels of 8730. Sensex also saw strong support near EquityPandit’s predicted support levels of 28930. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open flat with positive bias. 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. Nifty breached its strong support of 8792 levels and hence some more correction can’t be ruled out. Streets have huge expectations from Budget and hence market is in huge pressure at this point of time. Market would open on Budget session on Saturday as requested by Market participant to SEBI. FIIs were net buyers of Rs.601.91 crores whereas DIIs were net sellers of Rs.163.79 crores on Monday. Nifty would see strong support at 8730-8650-8600 levels whereas strong resistance would be seen at 8860-8900-8920 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8755) The support for the Nifty is at 8730-8650-8600 and the resistance to the up move is at 8860-8900-8920 levels.
NSE BankNifty: (18913) The support for BankNifty is at 19740-18660-18340 and the resistance to the up move is at 19240-19380-19540 levels.
BSE Sensex: (28975) The support for the Sensex is at 28930-28830-28645 and the resistance to the up move is at 29380-29480-29620 levels.
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