Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive. EquityPandit predicted that some profit booking would be seen before further positive movement and exactly same happened. Nifty saw highs right near EquityPandit’s predicted resistance levels of 8860. EquityPandit predicted that metal sector including Tatasteel can see positive movement and same happened. Finally, Indian Stock Market closed flat for the day.
Today: Indian Stock Market would open positive. Market may see some further profit booking at higher levels but overall market is still positive. Intraday Traders can go short on intraday basis below 8790 levels for Nifty on spot basis but this would be intraday trade only as overall market is still in positive trend. Positional traders should go long at every dip. FIIs were net sellers of Rs.182.80 crores whereas DIIs were net buyers of Rs.280.77 crores on Monday. Nifty would see strong support at 8730-8650-8593 levels whereas strong resistance would be seen at 8860-8920-9000 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8809) The support for the Nifty is at 8730-8650-8593 and the resistance to the up move is at 8860-8920-9000 levels.
NSE BankNifty: (19190) The support for BankNifty is at 19120-19000-18890 and the resistance to the up move is at 19540-19800-19970 levels.
BSE Sensex: (29136) The support for the Sensex is at 28930-28830-28640 and the resistance to the up move is at 29340-29410-29620 levels.
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