Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive with 80+ points for Nifty. Nifty breached record highs exactly as predicted by EquityPandit. Nifty saw highs right at EquityPandit’s predicted resistance levels of 9120 like a dot. Nifty fell down sharply from day highs and saw strong support right near EquityPandit’s predicted support levels of 8885. Sensex also saw 30000 levels for the first time and as predicted it acted as strong resistance for Sensex. Sensex closed just above EquityPandit’s predicted support levels of 29360 levels. Finally, market negated RBI Repo rate cut and fell down sharply to close in gap negative region.
Today: Indian Stock Market to open flat. Nifty fell down from record highs and it looks that Nifty made its top at 9120 levels for time being. We can see some profit booking at these levels. FIIs and DIIs were both buyers yesterday and hence it gives indication of further positive movement today. 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. FIIs were net buyers of Rs.2786.24 crores whereas DIIs were net buyers of Rs.16.89 crores on Wednesday. Nifty would see strong support at 8880-8835-8770 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: (8923) The support for the Nifty is 8880-8835-8770 and the resistance to the up move is at 9000-9120-9170 levels.
NSE BankNifty: (19644) The support for BankNifty is at 19500-19300-19110 and the resistance to the up move is at 20180-20380-20610 levels.
BSE Sensex: (29381) The support for the Sensex is at 29200-28940-28820 and the resistance to the up move is at 29820-30000-30200 levels.
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