Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. EquityPandit predicted that Nifty would see consolidation in a rangebound region and would see strong support at 8730 levels and exactly same happened. Nifty saw lows right at EquityPandit’s predicted support levels of 8730 levels. bankNifty also saw lows right at EquityPandit’s predicted support levels of 18740 levels like a dot. Finally, Indian Stock Market closed flat for the day.
Today: Indian Stock Market would open positive.Technically, we have seen Doji Pattern in last trading session and hence, we can see some sharp short covering (positive movement) today after 3 consecutive negative days. Traders can go long until Nifty holds 8730 levels on closing basis. Market would open on Budget session on Saturday as requested by Market participant to SEBI. FIIs were net buyers of Rs.697.28 crores whereas DIIs were net sellers of Rs.146.98 crores on Tuesday. 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: (8762) 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: (18884) The support for BankNifty is at 19740-18660-18340 and the resistance to the up move is at 19240-19380-19540 levels.
BSE Sensex: (29005) 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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