Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. Since EquityPandit predicted that Arvind Kejriwal win is already factored into the market hence we saw some sharp short covering in the market. Nifty moved sharply positive and saw strong resistance right at EquityPandit’s predicted resistance levels of 8650 like a dot. Overall market remained rangebound. Sensex also traded between EquityPandit’s predicted support and resistance levels of 27740 and 28670 levels. Nifty also traded between EquityPandit’s predicted support and resistance levels of 8450 and 8650 for the day.BankNifty saw strong support exactly at EquityPandit’s predicted support levels of 18210. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market would open flat with negative bias. Nifty is still in negative trend but some short covering can’t be ruled out at this point of time. FIIs are gradually seeing outflows from Indian Stock Market and this is a negative news for the market. Overall, Nifty would see negative movement in days to come and hence traders should trade short at every positive movement. FIIs were net sellers of Rs.1261.19 crores whereas DIIs were net buyers of Rs.851.32 crores on Tuesday. 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: BATAINDIA, CONCOR, ESCORTS, GODREJIND, IL&FSENGG, INDIACEM, JINDALPOLY, KWALITY, MAHINDCIE, MMTC, NCC, PFC, POWERGRID, STCINDIA, SYNDIBANK, TATAINVEST, VENKYS, VOLTAS, VSTTILLERS, WANBURY.
NSE Nifty: (8566) 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: (18753) The support for BankNifty is at 18420-18210-18100 and the resistance to the up move is at 18880-19120 levels.
BSE Sensex: (28356) The support for the Sensex is at 28040-27940-27700 and the resistance to the up move is at 28570-28670-28920 levels.
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