Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the Budget day. EquityPandit predicted that market has entered into positive zone and specially BankNifty. EquityPandit also predicted that Market would open positive and then correct before the budget session and since our mathematical model has suggested BankNifty entering into positive zone hence we would have a good budget today and we would see sharp rise in the market and exactly same happened. Indian Stock Market opened gap positive and corrected before the budget session started. BankNifty moved sharply positive after the budget exactly as predicted by EquityPandit. EquityPandit’s EP-BankNifty package subscribers has earned more than 700 points for BankNifty as EquityPandit has already recommended them to buy BankNifty a day before Budget and booked at budget trading session close, almost at its highs. Readers, who followed EquityPandit’s advice to go long also might have earned huge profits for the day. Nifty was not able to breach 9000 levels as ITC saw lower circuit due to hike in duty on tobacco products exactly as predicted by EquityPandit. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open flat. Indian Stock Market has entered into positive zone but Nifty would still struggle to breach EquityPandit’s resistance of 9000 levels by closing. We could even see some profit booking (Negative trend) before Nifty breaching those levels but traders are suggested to go long at every downfall in the market with strict stoploss of 8770 spot levels for Nifty. BankNifty has entered into positive zone and would continue to move positive after some profit booking. FIIs were net buyers of Rs.614.03 crores whereas DIIs were net sellers of Rs.740.74 crores on Saturday. Nifty would see strong support at 8835-8770-8730 levels whereas strong resistance would be seen at 8920-9000-9020 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8902) The support for the Nifty is 8835-8770-8730 and the resistance to the up move is at 8920-9000-9020 levels.
NSE BankNifty: (19691) The support for BankNifty is at 19500-19215-19000 and the resistance to the up move is at 19808-19975-20075 levels.
BSE Sensex: (29361) The support for the Sensex is at 29200-28940-28820 and the resistance to the up move is at 29480-29560-29850 levels.
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