Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive with with 65 points positive for Nifty. EquityPandit predicted that Market would move sharply positive and if Nifty managed to close above 8760 levels then we could see new record highs in days to come. Nifty was not able to sustain 8760 levels and fell down sharply. Nifty saw lows right at EquityPandit’s predicted support levels of 8610 like a dot. Sensex also saw highs right at EquityPandit’s predicted resistance levels of 28970 and lows around EquityPandit’s predicted support levels of 28430. BankNifty also saw highs right at EquityPandit’s predicted resistance levels of 19380 like a dot. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market to open flat. Now, since Nifty was not able to close above EquityPandit’s predicted resistance levels of 8760 hence the negative trend is intact and we would see further downfall in the market. Traders are suggested to continue and hold short positions and we could see levels of 8593-8500 in days to come. Traders should consider strict stoploss in the range of 8700-8760 levels for Nifty, which looks hard to break in upcoming days on closing basis. Interstingly, FIIs and DIIs were both net buyers for the day. FIIs were net buyers of Rs.1428.72 crores whereas DIIs were net buyers of Rs.53.46 crores on Thursday. Nifty would see strong support at 8610-8593-8500 whereas strong resistance would be seen at 8700-8735-8760 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8635) The support for the Nifty is 8610-8593-8500 and the resistance to the up move is at 8700-8735-8760 levels.
NSE BankNifty: (18811) The support for BankNifty is at 18680-18480-18375 and the resistance to the up move is at 19075-19220-19380 levels.
BSE Sensex: (28470) The support for the Sensex is at 28380-28180-28045 and the resistance to the up move is at 28650-28840-28970 levels.
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