Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with 7 points positive for Nifty. EquityPandit predicted that we can see some profit booking where 8835 would act as strong support for Nifty and exactly same happened. Nifty moved sharply negative and saw lows near Equitypandit predicted support levels of 8835 levels. EquityPandit predicted that market would see further positive movements from day lows and exactly same happened. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market to open gap negative. Now, Nifty may see some correction on fears of US pending rates hike. Nifty levels of 8850-8800 would act as important levels, which if breached on negative closing levels then we can see sharp negative movements in Indian Stock Market. BankNifty would enter into negative territory, once closes below spot levels of 19500. If it happened then we would surely see further downfall in days to come. For now, traders can trade positive at every dip in the market with strict stoploss of 8800 levels for Nifty on closing basis. FIIs were net buyers of Rs.79.84 crores whereas DIIs were net sellers of Rs.193.54 crores on Thursday. Nifty would see strong support at 8835-8800-8770 levels whereas strong resistance would be seen at 9000-9120-9170 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8938) The support for the Nifty is 8835-8800-8770 and the resistance to the up move is at 9000-9120-9170 levels.
NSE BankNifty: (19748) The support for BankNifty is at 19500-19300-19110 and the resistance to the up move is at 19880-20180-20380 levels.
BSE Sensex: (29449) The support for the Sensex is at 29160-28940-28820 and the resistance to the up move is at 29520-29820-30000 levels.
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